Novo Holdings A S Sells 39,785 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Novo Holdings A S cut its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 960,215 shares of the company's stock after selling 39,785 shares during the period. Crinetics Pharmaceuticals accounts for about 3.0% of Novo Holdings A S's portfolio, making the stock its 11th largest position. Novo Holdings A S owned about 1.04% of Crinetics Pharmaceuticals worth $49,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in Crinetics Pharmaceuticals by 100.4% in the 4th quarter. FMR LLC now owns 8,928,086 shares of the company's stock worth $456,493,000 after buying an additional 4,472,316 shares during the last quarter. Vanguard Group Inc. lifted its stake in Crinetics Pharmaceuticals by 44.6% during the fourth quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock worth $464,741,000 after purchasing an additional 2,801,736 shares in the last quarter. Wellington Management Group LLP increased its holdings in Crinetics Pharmaceuticals by 55.9% in the fourth 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 last quarter. SG Americas Securities LLC grew its holdings in shares of Crinetics Pharmaceuticals by 4,084.6% during the fourth quarter. SG Americas Securities LLC now owns 542,446 shares of the company's stock worth $27,735,000 after purchasing an additional 529,483 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 61.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company's stock valued at $73,815,000 after acquiring an additional 528,688 shares during the period. Hedge funds and other institutional investors own 98.51% of the company's stock.

Insider Activity at Crinetics Pharmaceuticals

In other 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard Scott Struthers sold 17,338 shares of the company'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 $592,959.60. Following the completion of the transaction, the chief executive officer now directly owns 329,147 shares in the company, valued at approximately $11,256,827.40. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,015 shares of company stock valued at $923,913 over the last 90 days. 6.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock traded down $2.27 during midday trading on Tuesday, reaching $31.38. 509,024 shares of the company were exchanged, compared to its average volume of 860,100. The company's 50 day moving average price is $32.19 and its two-hundred day moving average price is $43.10. The company has a market cap of $2.94 billion, a P/E ratio of -8.40 and a beta of 0.31. Crinetics Pharmaceuticals, Inc. has a 12 month low of $24.10 and a 12 month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping analysts' consensus estimates of ($0.92) by $0.04. As a group, sell-side analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

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.