Rhumbline Advisers Acquires 15,359 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Rhumbline Advisers lifted its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 14.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 124,078 shares of the company's stock after acquiring an additional 15,359 shares during the quarter. Rhumbline Advisers owned 0.13% of Crinetics Pharmaceuticals worth $6,344,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. US Bancorp DE raised its stake in shares of Crinetics Pharmaceuticals by 3.4% in the 3rd quarter. US Bancorp DE now owns 11,488 shares of the company's stock valued at $587,000 after purchasing an additional 373 shares in the last quarter. KBC Group NV increased its holdings in Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company's stock valued at $112,000 after buying an additional 407 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Crinetics Pharmaceuticals by 2.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company's stock valued at $1,054,000 after buying an additional 505 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Crinetics Pharmaceuticals by 23.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock worth $147,000 after buying an additional 541 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Crinetics Pharmaceuticals by 0.5% during the 3rd quarter. Swiss National Bank now owns 130,900 shares of the company's stock worth $6,689,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

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Insider Activity at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the transaction, the insider now directly owns 31,748 shares in the company, valued at $1,240,394.36. The trade was a 13.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JMP Securities reiterated a "market outperform" rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research note on Wednesday, January 22nd. HC Wainwright restated a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating for the company. Finally, Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a "peer perform" rating on the stock. One equities research 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, Crinetics Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $72.64.

Crinetics Pharmaceuticals Stock Up 7.7 %

NASDAQ CRNX traded up $2.57 on Friday, hitting $35.78. The stock had a trading volume of 2,042,034 shares, compared to its average volume of 1,034,224. The company's 50-day moving average is $41.17 and its two-hundred day moving average is $50.07. Crinetics Pharmaceuticals, Inc. has a one year low of $31.84 and a one year high of $62.53. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -9.59 and a beta of 0.56.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted 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, sell-side analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current 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.