27,712 Shares in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Acquired by Aquatic Capital Management LLC

Aquatic Capital Management LLC acquired a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 27,712 shares of the company's stock, valued at approximately $1,417,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in Crinetics Pharmaceuticals in the 4th quarter valued at $41,000. Headlands Technologies LLC acquired a new position in shares of Crinetics Pharmaceuticals during the fourth quarter valued at about $52,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $66,000. KBC Group NV raised its holdings in shares of Crinetics Pharmaceuticals by 69.3% in the 4th quarter. KBC Group NV now owns 3,712 shares of the company's stock worth $190,000 after acquiring an additional 1,519 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Crinetics Pharmaceuticals by 13.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company's stock valued at $254,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 98.51% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wolfe Research began coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They set a "peer perform" rating for the company. Jefferies Financial Group raised Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research report on Wednesday, January 22nd. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating on the stock. Stifel Nicolaus initiated coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They issued a "buy" rating and a $60.00 target price for the company. Finally, HC Wainwright restated a "buy" rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Insider Activity at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 2,515 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $86,013.00. Following the completion of the transaction, the insider now directly owns 72,233 shares in the company, valued at approximately $2,470,368.60. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jeff E. Knight sold 7,162 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $244,940.40. Following the sale, the chief operating officer now owns 87,491 shares in the company, valued at approximately $2,992,192.20. The trade was a 7.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,015 shares of company stock worth $1,119,263. Corporate insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX opened at $33.31 on Wednesday. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53. The business has a 50-day moving average of $32.25 and a 200 day moving average of $43.87. The firm has a market cap of $3.12 billion, a P/E ratio of -8.93 and a beta of 0.37.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its earnings results 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. As a group, research analysts predict 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.

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