Peak6 LLC Takes Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

PEAK6 LLC bought a new stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the company's stock, valued at approximately $511,000.

Other large investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC purchased a new position in shares of Crinetics Pharmaceuticals during the fourth quarter valued at about $41,000. Headlands Technologies LLC bought a new position in Crinetics Pharmaceuticals during the fourth quarter valued at approximately $52,000. Harvest Fund Management Co. Ltd purchased a new position in Crinetics Pharmaceuticals during the 4th quarter valued at approximately $66,000. KBC Group NV increased its stake in Crinetics Pharmaceuticals by 69.3% in the 4th quarter. KBC Group NV now owns 3,712 shares of the company's stock worth $190,000 after acquiring an additional 1,519 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Crinetics Pharmaceuticals by 13.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company's stock worth $254,000 after acquiring an additional 600 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals 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 approximately $2,470,368.60. This represents a 3.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jeff E. Knight sold 7,162 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $244,940.40. Following the transaction, the chief operating officer now directly owns 87,491 shares in the company, valued at $2,992,192.20. The trade was a 7.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,015 shares of company stock worth $1,119,263 in the last 90 days. 6.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Crinetics Pharmaceuticals Trading Down 3.0 %

Shares of CRNX stock traded down $1.00 on Friday, reaching $32.39. 835,521 shares of the company's stock were exchanged, compared to its average volume of 860,349. The company's fifty day simple moving average is $32.39 and its 200 day simple moving average is $44.18. Crinetics Pharmaceuticals, Inc. has a 52 week low of $24.10 and a 52 week high of $62.53. The stock has a market capitalization of $3.01 billion, a PE ratio of -8.68 and a beta of 0.37.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. As a group, sell-side analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

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.