Wells Fargo & Company MN Raises Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Wells Fargo & Company MN increased its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,916 shares of the company's stock after acquiring an additional 16,025 shares during the quarter. Wells Fargo & Company MN owned approximately 0.11% of Crinetics Pharmaceuticals worth $5,160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CRNX. Bryce Point Capital LLC purchased a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter valued at $1,160,000. Headlands Technologies LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $52,000. Geode Capital Management LLC increased its stake in shares of Crinetics Pharmaceuticals by 13.6% in the fourth quarter. Geode Capital Management LLC now owns 2,098,841 shares of the company's stock worth $107,339,000 after acquiring an additional 250,708 shares during the period. Franklin Resources Inc. raised its stake in shares of Crinetics Pharmaceuticals by 14.5% during the 4th quarter. Franklin Resources Inc. now owns 1,591,666 shares of the company's stock valued at $81,382,000 after buying an additional 201,556 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Crinetics Pharmaceuticals by 9.9% in the 4th quarter. Alliancebernstein L.P. now owns 101,720 shares of the company's stock valued at $5,201,000 after buying an additional 9,190 shares during the period. Institutional investors own 98.51% of the company's stock.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the completion of the sale, the chief executive officer now directly owns 329,147 shares of the company's stock, valued at approximately $11,256,827.40. This represents a 5.00 % 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 this hyperlink. Also, insider Dana Pizzuti sold 5,000 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,015 shares of company stock worth $1,119,263 over the last three months. Insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Trading Up 1.6 %

Crinetics Pharmaceuticals stock traded up $0.51 during mid-day trading on Thursday, hitting $32.88. The company's stock had a trading volume of 498,368 shares, compared to its average volume of 856,359. Crinetics Pharmaceuticals, Inc. has a 1 year low of $24.10 and a 1 year high of $62.53. The firm has a market capitalization of $3.06 billion, a PE ratio of -8.81 and a beta of 0.37. The stock's fifty day moving average is $32.49 and its two-hundred day moving average is $44.44.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.04. On average, equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. TD Cowen started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating for the company. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a "peer perform" rating for the company. Stifel Nicolaus assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They set a "buy" rating and a $60.00 price target 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 research note on Wednesday, January 22nd. Finally, HC Wainwright reissued a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

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.