Boothbay Fund Management LLC Raises Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Boothbay Fund Management LLC lifted its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 25.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,752 shares of the company's stock after acquiring an additional 28,327 shares during the period. Boothbay Fund Management LLC owned approximately 0.15% of Crinetics Pharmaceuticals worth $7,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC boosted its position in Crinetics Pharmaceuticals by 98.5% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 25,044 shares of the company's stock valued at $1,280,000 after buying an additional 12,429 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Crinetics Pharmaceuticals by 62.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 65,000 shares of the company's stock worth $3,323,000 after purchasing an additional 25,000 shares during the period. Hood River Capital Management LLC increased its stake in shares of Crinetics Pharmaceuticals by 2.0% in the 4th quarter. Hood River Capital Management LLC now owns 851,400 shares of the company's stock valued at $43,532,000 after acquiring an additional 16,488 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Crinetics Pharmaceuticals by 9.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,414,505 shares of the company's stock worth $276,844,000 after purchasing an additional 469,748 shares during the period. Finally, Diadema Partners LP bought a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter valued at approximately $1,324,000. Institutional investors own 98.51% of the company's stock.

Insiders Place Their Bets

In other news, CEO Richard Scott Struthers sold 17,338 shares of Crinetics Pharmaceuticals stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $592,959.60. Following the completion of the sale, the chief executive officer now owns 329,147 shares in the company, valued at approximately $11,256,827.40. This trade represents a 5.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dana Pizzuti sold 5,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 31,748 shares in the company, valued at approximately $1,240,394.36. This trade represents 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 in the last three months. 6.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ:CRNX traded up $1.09 during trading on Friday, hitting $34.61. 420,070 shares of the company were exchanged, compared to its average volume of 857,637. The company has a market cap of $3.24 billion, a PE ratio of -9.26 and a beta of 0.37. Crinetics Pharmaceuticals, Inc. has a 52-week low of $24.10 and a 52-week high of $62.53. The stock has a 50 day moving average of $32.14 and a 200 day moving average of $43.66.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its quarterly 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. Sell-side analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS 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.