Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 92.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 43,105 shares of the company's stock after buying an additional 20,757 shares during the period. Intech Investment Management LLC's holdings in Crinetics Pharmaceuticals were worth $2,204,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in Crinetics Pharmaceuticals during the fourth quarter worth about $41,000. KBC Group NV boosted its position in Crinetics Pharmaceuticals by 22.8% in the 3rd quarter. KBC Group NV now owns 2,193 shares of the company's stock worth $112,000 after purchasing an additional 407 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Crinetics Pharmaceuticals by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company's stock worth $143,000 after purchasing an additional 1,008 shares during the period. Commerce Bank purchased a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter valued at approximately $212,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at $215,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Crinetics Pharmaceuticals Trading Down 2.4 %

Crinetics Pharmaceuticals stock traded down $0.87 during mid-day trading on Tuesday, hitting $35.07. The company's stock had a trading volume of 1,036,194 shares, compared to its average volume of 814,522. The firm has a market capitalization of $3.26 billion, a PE ratio of -9.40 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 1 year low of $31.84 and a 1 year high of $62.53. The stock's fifty day moving average is $36.16 and its two-hundred day moving average is $47.97.

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Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating analysts' consensus estimates of ($0.92) by $0.04. On average, equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Analysts Set New Price Targets

CRNX has been the topic of several analyst reports. Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a "peer perform" rating on the stock. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research report on Wednesday, January 22nd. HC Wainwright reaffirmed a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. TD Cowen initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating on the stock. Finally, Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a research note on Tuesday. They set a "buy" rating and a $60.00 target price for the company. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Crinetics Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Insider Activity

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 2,515 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $86,013.00. Following the sale, the insider now directly owns 72,233 shares in the company, valued at $2,470,368.60. This represents a 3.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jeff E. Knight sold 7,162 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $244,940.40. Following the completion of the transaction, the chief operating officer now owns 87,491 shares of the company's stock, valued at approximately $2,992,192.20. This trade represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,015 shares of company stock valued at $1,119,263. 6.00% of the stock is currently owned by company insiders.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.