Victory Capital Management Inc. Has $17.55 Million Stock Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Victory Capital Management Inc. increased its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 51.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 343,344 shares of the company's stock after acquiring an additional 116,657 shares during the period. Victory Capital Management Inc. owned about 0.43% of Crinetics Pharmaceuticals worth $17,545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Comerica Bank acquired a new position in Crinetics Pharmaceuticals during the first quarter worth $33,000. Quest Partners LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the second quarter valued at about $42,000. Values First Advisors Inc. acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at about $84,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at about $91,000. Finally, Amalgamated Bank grew its position in shares of Crinetics Pharmaceuticals by 20.8% in the second quarter. Amalgamated Bank now owns 2,692 shares of the company's stock valued at $121,000 after purchasing an additional 464 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CRNX shares. HC Wainwright lifted their target price on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Oppenheimer reissued an "outperform" rating and set a $73.00 target price (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. Citigroup lifted their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. Finally, JMP Securities reissued a "market outperform" rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $70.18.

Insider Buying and Selling

In other news, CFO Marc Wilson sold 25,000 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total value of $1,277,750.00. Following the completion of the transaction, the chief financial officer now owns 111,092 shares of the company's stock, valued at $5,677,912.12. The trade was a 18.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen F. Betz sold 1,035 shares of the business's stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total transaction of $53,302.50. Following the completion of the transaction, the insider now directly owns 68,576 shares of the company's stock, valued at $3,531,664. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,410 shares of company stock worth $2,275,929 in the last quarter. Insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ:CRNX traded up $0.90 during trading on Wednesday, reaching $56.07. The stock had a trading volume of 493,583 shares, compared to its average volume of 783,211. Crinetics Pharmaceuticals, Inc. has a 52 week low of $29.72 and a 52 week high of $62.53. The business's 50-day moving average price is $55.20 and its 200 day moving average price is $51.46. The stock has a market capitalization of $5.20 billion, a PE ratio of -15.03 and a beta of 0.62.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.05). During the same quarter in the prior year, the company posted ($1.01) EPS. Analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS 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.