Invesco Ltd. Purchases 42,954 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Invesco Ltd. boosted its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 16.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 298,254 shares of the company's stock after buying an additional 42,954 shares during the period. Invesco Ltd. owned 0.32% of Crinetics Pharmaceuticals worth $15,250,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CRNX. Venturi Wealth Management LLC purchased a new position in shares of Crinetics Pharmaceuticals in the 4th quarter valued at approximately $41,000. Headlands Technologies LLC bought a new position in Crinetics Pharmaceuticals in the fourth quarter worth $52,000. Harvest Fund Management Co. Ltd purchased a new position in Crinetics Pharmaceuticals during the fourth quarter valued at $66,000. KBC Group NV boosted its holdings in shares of Crinetics Pharmaceuticals by 69.3% during the 4th quarter. KBC Group NV now owns 3,712 shares of the company's stock valued at $190,000 after buying an additional 1,519 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Crinetics Pharmaceuticals by 13.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company's stock worth $254,000 after buying an additional 600 shares during the period. 98.51% of the stock is owned by institutional investors.

Crinetics Pharmaceuticals Trading Down 4.6 %

NASDAQ:CRNX traded down $1.53 during trading hours on Friday, reaching $31.86. The company had a trading volume of 231,482 shares, compared to its average volume of 856,910. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -8.56 and a beta of 0.37. The firm's 50 day moving average price is $32.45 and its 200-day moving average price is $44.31. Crinetics Pharmaceuticals, Inc. has a 52 week low of $24.10 and a 52 week high of $62.53.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a "buy" rating for the company. Wolfe Research started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a "peer perform" rating for the company. HC Wainwright reaffirmed a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research note on Wednesday, January 22nd. Finally, Stifel Nicolaus started coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They set a "buy" rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Insider Transactions at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 2,515 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $86,013.00. Following the completion of 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 document filed with the SEC, which is available at this link. Also, CEO Richard Scott Struthers sold 17,338 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the completion of the transaction, the chief executive officer now directly owns 329,147 shares in the company, valued at approximately $11,256,827.40. This represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,015 shares of company stock worth $1,119,263 in the last quarter. Company insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Company Profile

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.