Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Orbimed Advisors LLC

Orbimed Advisors LLC trimmed its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 999,000 shares of the company's stock after selling 51,055 shares during the quarter. Crinetics Pharmaceuticals makes up approximately 1.1% of Orbimed Advisors LLC's holdings, making the stock its 29th biggest position. Orbimed Advisors LLC owned 1.08% of Crinetics Pharmaceuticals worth $51,079,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRNX. FMR LLC boosted its position in shares of Crinetics Pharmaceuticals by 100.4% during the 4th quarter. FMR LLC now owns 8,928,086 shares of the company's stock valued at $456,493,000 after acquiring an additional 4,472,316 shares during the last quarter. Farallon Capital Management LLC boosted its position in shares of Crinetics Pharmaceuticals by 250.7% during the 4th quarter. Farallon Capital Management LLC now owns 4,075,098 shares of the company's stock valued at $208,360,000 after acquiring an additional 2,913,098 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Crinetics Pharmaceuticals by 44.6% during the 4th quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock valued at $464,741,000 after acquiring an additional 2,801,736 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Crinetics Pharmaceuticals by 55.9% during the 4th quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock valued at $355,382,000 after acquiring an additional 2,490,876 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Crinetics Pharmaceuticals by 4,084.6% during the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company's stock valued at $27,735,000 after acquiring an additional 529,483 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, CEO Richard Scott Struthers sold 17,338 shares of the business'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 of the company's stock, valued at approximately $11,256,827.40. The trade was a 5.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dana Pizzuti sold 2,515 shares of the company'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 $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. The trade was a 3.36% 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. Company insiders own 6.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRNX. Stifel Nicolaus began coverage on Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price target for the company. Wolfe Research started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a "peer perform" rating for the company. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research report on Wednesday, January 22nd. Finally, TD Cowen started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a "buy" rating for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Crinetics Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $73.00.

Crinetics Pharmaceuticals Trading Up 0.1%

Shares of CRNX stock traded up $0.03 during trading hours on Friday, reaching $31.24. 530,635 shares of the company's stock were exchanged, compared to its average volume of 861,724. Crinetics Pharmaceuticals, Inc. has a 1 year low of $24.10 and a 1 year high of $62.53. The stock has a market cap of $2.92 billion, a PE ratio of -8.38 and a beta of 0.31. The stock's fifty day moving average price is $31.73 and its two-hundred day moving average price is $41.56.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.05). The business had revenue of $0.36 million for the quarter, compared to analyst estimates of $0.10 million. During the same period last year, the firm posted ($0.93) EPS. The company's revenue for the quarter was down 43.6% on a year-over-year basis. On average, equities analysts expect 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.