Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by First Light Asset Management LLC

First Light Asset Management LLC decreased its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 885,453 shares of the company's stock after selling 58,158 shares during the period. Crinetics Pharmaceuticals accounts for 4.3% of First Light Asset Management LLC's investment portfolio, making the stock its 9th largest holding. First Light Asset Management LLC owned about 0.95% of Crinetics Pharmaceuticals worth $45,273,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 7,162 shares of the 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 sale, the chief operating officer now owns 87,491 shares in the company, valued at approximately $2,992,192.20. This represents a 7.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Scott Struthers sold 17,338 shares of the company'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 $592,959.60. Following the completion of the sale, the chief executive officer now owns 329,147 shares in the company, valued at $11,256,827.40. This represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,015 shares of company stock valued at $1,119,263. Insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Stock Up 0.7 %

Shares of NASDAQ CRNX traded up $0.24 during midday trading on Friday, hitting $33.76. The company had a trading volume of 907,545 shares, compared to its average volume of 860,524. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -9.05 and a beta of 0.37. Crinetics Pharmaceuticals, Inc. has a twelve month low of $24.10 and a twelve month high of $62.53. The business has a 50-day simple moving average of $32.17 and a two-hundred day simple moving average of $43.49.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 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.