Janus Henderson Group PLC Has $142.90 Million Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Janus Henderson Group PLC grew its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 15.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,795,441 shares of the company's stock after purchasing an additional 365,991 shares during the period. Janus Henderson Group PLC owned about 3.01% of Crinetics Pharmaceuticals worth $142,902,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Venturi Wealth Management LLC bought a new stake in shares of Crinetics Pharmaceuticals during the 4th quarter worth approximately $41,000. Headlands Technologies LLC acquired a new position in Crinetics Pharmaceuticals during the fourth quarter worth $52,000. Harvest Fund Management Co. Ltd bought a new stake in Crinetics Pharmaceuticals during the fourth quarter worth $66,000. KBC Group NV lifted its stake in Crinetics Pharmaceuticals by 69.3% in the fourth quarter. KBC Group NV now owns 3,712 shares of the company's stock valued at $190,000 after acquiring an additional 1,519 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of 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 during the period. Institutional investors own 98.51% of the company's stock.

Wall Street Analysts Forecast Growth

CRNX has been the subject of several recent analyst reports. Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued 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 report on Wednesday, January 22nd. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating on the stock. Finally, Stifel Nicolaus began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $73.00.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ CRNX traded up $0.03 during midday trading on Friday, reaching $31.24. The company's stock had a trading volume of 530,635 shares, compared to its average volume of 859,751. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53. The business's 50 day moving average price is $31.79 and its two-hundred day moving average price is $41.83. The company has a market cap of $2.92 billion, a P/E ratio of -8.38 and a beta of 0.31.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.05). The firm had revenue of $0.36 million during the quarter, compared to analysts' expectations of $0.10 million. The business's revenue for the quarter was down 43.6% on a year-over-year basis. During the same period last year, the firm posted ($0.93) EPS. Sell-side analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Dana Pizzuti sold 2,515 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $86,013.00. Following the sale, the insider now directly owns 72,233 shares of the company's stock, valued at $2,470,368.60. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Jeff E. Knight sold 7,162 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $244,940.40. Following the transaction, the chief operating officer now directly owns 87,491 shares of the company's stock, valued at approximately $2,992,192.20. The trade was a 7.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,015 shares of company stock worth $923,913. 6.00% of the stock is currently owned by corporate insiders.

About Crinetics Pharmaceuticals

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.