14,674 Shares in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC bought a new position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,674 shares of the company's stock, valued at approximately $750,000.

Other hedge funds have also recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in shares of Crinetics Pharmaceuticals during the 4th quarter worth $41,000. Advisors Asset Management Inc. increased its stake in shares of Crinetics Pharmaceuticals by 56.1% in the third 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 in the last quarter. KBC Group NV raised its position in shares of Crinetics Pharmaceuticals by 69.3% in the fourth quarter. KBC Group NV now owns 3,712 shares of the company's stock valued at $190,000 after purchasing an additional 1,519 shares during the period. Commerce Bank purchased a new stake in shares of Crinetics Pharmaceuticals during the 3rd quarter valued at approximately $212,000. Finally, Janney Montgomery Scott LLC boosted its holdings in 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 currently owned by institutional investors.

Analyst Upgrades and Downgrades

CRNX has been the topic of several recent research reports. HC Wainwright restated a "buy" rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Wolfe Research started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They set a "peer perform" rating on the stock. Jefferies Financial Group raised 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 assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday. They set a "buy" rating and a $60.00 price target on the stock. Finally, JMP Securities restated a "market outperform" rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, Crinetics Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Remove Ads

Crinetics Pharmaceuticals Trading Down 1.6 %

Shares of NASDAQ:CRNX traded down $0.56 during trading on Wednesday, reaching $34.51. The company had a trading volume of 1,147,238 shares, compared to its average volume of 817,209. The stock has a market capitalization of $3.21 billion, a P/E ratio of -9.25 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 12 month low of $31.84 and a 12 month high of $62.53. The company has a fifty day moving average of $36.15 and a two-hundred day moving average of $47.86.

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

Insider Activity at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 5,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the sale, the insider now directly owns 31,748 shares of the company's stock, valued at $1,240,394.36. This trade represents a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Scott Struthers sold 17,338 shares of the business's 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 in the company, 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. Insiders sold 32,015 shares of company stock worth $1,119,263 in the last ninety days. 6.00% of the stock is owned by company insiders.

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.