Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Acuta Capital Partners LLC

Acuta Capital Partners LLC reduced its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,900 shares of the company's stock after selling 8,800 shares during the period. Crinetics Pharmaceuticals makes up about 6.3% of Acuta Capital Partners LLC's investment portfolio, making the stock its 4th biggest position. Acuta Capital Partners LLC owned approximately 0.13% of Crinetics Pharmaceuticals worth $6,284,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Crinetics Pharmaceuticals by 44.6% during the 4th quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock worth $464,741,000 after acquiring an additional 2,801,736 shares during the last quarter. FMR LLC grew its holdings in shares of Crinetics Pharmaceuticals by 100.4% in the 4th quarter. FMR LLC now owns 8,928,086 shares of the company's stock valued at $456,493,000 after buying an additional 4,472,316 shares during the period. Wellington Management Group LLP grew its holdings in shares of Crinetics Pharmaceuticals by 55.9% in the 4th quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock valued at $355,382,000 after buying an additional 2,490,876 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Crinetics Pharmaceuticals by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,414,505 shares of the company's stock valued at $276,844,000 after buying an additional 469,748 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Crinetics Pharmaceuticals by 13.6% during 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 in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock traded up $1.08 on Wednesday, hitting $31.60. The company's stock had a trading volume of 170,655 shares, compared to its average volume of 860,560. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53. The stock's 50 day moving average is $32.14 and its 200-day moving average is $43.01. The company has a market capitalization of $2.96 billion, a PE ratio of -8.46 and a beta of 0.31.

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

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, COO Jeff E. Knight sold 7,162 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $244,940.40. Following the completion of the transaction, the chief operating officer now directly owns 87,491 shares of the company's stock, valued at $2,992,192.20. This trade represents a 7.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dana Pizzuti sold 2,515 shares of the company'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 $86,013.00. Following the completion of the sale, the insider now owns 72,233 shares in the company, valued at $2,470,368.60. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,015 shares of company stock worth $923,913 over the last quarter. Corporate insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CRNX shares. HC Wainwright reiterated a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. TD Cowen began coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating for the company. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a research note on Wednesday, January 22nd. Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a "peer perform" rating for the company. Finally, Stifel Nicolaus started coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They set a "buy" rating and a $60.00 target price on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $73.00.

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.