Proficio Capital Partners LLC Buys Shares of 14,674 Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Proficio Capital Partners LLC purchased a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,674 shares of the company's stock, valued at approximately $750,000.

A number of other hedge funds have also recently modified their holdings of the company. FMR LLC raised its position in Crinetics Pharmaceuticals by 8.8% in the third quarter. FMR LLC now owns 4,455,770 shares of the company's stock valued at $227,690,000 after purchasing an additional 358,975 shares during the period. State Street Corp raised its holdings in Crinetics Pharmaceuticals by 0.9% in the 3rd quarter. State Street Corp now owns 2,838,484 shares of the company's stock valued at $145,047,000 after buying an additional 25,561 shares during the period. Jennison Associates LLC lifted its position in Crinetics Pharmaceuticals by 0.5% in the third quarter. Jennison Associates LLC now owns 2,793,614 shares of the company's stock valued at $142,754,000 after buying an additional 13,470 shares during the last quarter. Geode Capital Management LLC boosted its stake in Crinetics Pharmaceuticals by 10.1% during the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company's stock worth $94,458,000 after buying an additional 169,746 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Crinetics Pharmaceuticals by 61.4% during the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company's stock valued at $73,815,000 after acquiring an additional 528,688 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

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Insiders Place Their Bets

In related news, insider Dana Pizzuti sold 5,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total value of $195,350.00. Following the completion of the sale, the insider now owns 31,748 shares in the company, valued at $1,240,394.36. This represents a 13.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on CRNX shares. JMP Securities reissued a "market outperform" rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a "peer perform" rating on the stock. HC Wainwright restated a "buy" rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. TD Cowen started coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a "buy" rating on the stock. Finally, Jefferies Financial Group raised shares of 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. 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.64.

Crinetics Pharmaceuticals Trading Up 3.0 %

CRNX stock traded up $1.03 during trading on Wednesday, hitting $35.29. 400,180 shares of the company's stock were exchanged, compared to its average volume of 1,015,083. The business has a 50-day moving average price of $38.53 and a two-hundred day moving average price of $49.11. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -9.49 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 52-week low of $31.84 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) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Crinetics Pharmaceuticals 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.