Price T Rowe Associates Inc. MD Acquires 469,748 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Price T Rowe Associates Inc. MD lifted its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,414,505 shares of the company's stock after purchasing an additional 469,748 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 5.84% of Crinetics Pharmaceuticals worth $276,844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Crinetics Pharmaceuticals by 44.6% during the fourth quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock valued at $464,741,000 after buying an additional 2,801,736 shares in the last quarter. FMR LLC increased its holdings in shares of Crinetics Pharmaceuticals by 100.4% during the 4th quarter. FMR LLC now owns 8,928,086 shares of the company's stock valued at $456,493,000 after acquiring an additional 4,472,316 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Crinetics Pharmaceuticals by 55.9% in the 4th quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock valued at $355,382,000 after acquiring an additional 2,490,876 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Crinetics Pharmaceuticals by 13.6% in the 4th quarter. Geode Capital Management LLC now owns 2,098,841 shares of the company's stock worth $107,339,000 after purchasing an additional 250,708 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Crinetics Pharmaceuticals by 14.5% during the fourth quarter. Franklin Resources Inc. now owns 1,591,666 shares of the company's stock worth $81,382,000 after purchasing an additional 201,556 shares during the period. Institutional investors own 98.51% of the company's stock.

Crinetics Pharmaceuticals Trading Up 0.6 %

Shares of CRNX stock traded up $0.20 on Tuesday, hitting $33.31. 737,016 shares of the stock were exchanged, compared to its average volume of 860,028. The firm has a market capitalization of $3.12 billion, a P/E ratio of -8.93 and a beta of 0.37. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53. The business has a 50-day moving average of $32.32 and a 200 day moving average of $43.94.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly 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, research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 2,515 shares of Crinetics Pharmaceuticals stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $86,013.00. Following the sale, the insider now owns 72,233 shares of the company's stock, valued at approximately $2,470,368.60. The trade was a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Scott Struthers sold 17,338 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 value of $592,959.60. Following the transaction, the chief executive officer now directly owns 329,147 shares of the company's stock, valued at $11,256,827.40. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,015 shares of company stock worth $1,119,263. Insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

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

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.