Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Position Increased by Driehaus Capital Management LLC

Driehaus Capital Management LLC boosted its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,141,014 shares of the company's stock after buying an additional 255,766 shares during the quarter. Crinetics Pharmaceuticals makes up about 2.6% of Driehaus Capital Management LLC's holdings, making the stock its 2nd largest position. Driehaus Capital Management LLC owned 6.62% of Crinetics Pharmaceuticals worth $313,990,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Barclays PLC grew its position in shares of Crinetics Pharmaceuticals by 75.5% during the third quarter. Barclays PLC now owns 207,712 shares of the company's stock worth $10,614,000 after acquiring an additional 89,358 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Crinetics Pharmaceuticals by 61.4% during the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company's stock worth $73,815,000 after buying an additional 528,688 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $818,000. 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 buying an additional 529,483 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Crinetics Pharmaceuticals by 0.3% during the third quarter. JPMorgan Chase & Co. now owns 285,956 shares of the company's stock worth $14,612,000 after buying an additional 894 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company's stock.

Crinetics Pharmaceuticals Stock Performance

NASDAQ CRNX traded down $1.71 during trading hours on Tuesday, reaching $31.61. The company's stock had a trading volume of 559,130 shares, compared to its average volume of 861,179. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53. The company's 50-day moving average is $31.94 and its two-hundred day moving average is $42.16. The stock has a market cap of $2.96 billion, a PE ratio of -8.47 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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.05). The business had revenue of $0.36 million for the quarter, compared to the consensus estimate of $0.10 million. The company's quarterly revenue was down 43.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.93) EPS. Equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Richard Scott Struthers sold 17,338 shares of the firm's stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Jeff E. Knight sold 7,162 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $244,940.40. Following the completion of the transaction, the chief operating officer now owns 87,491 shares in the company, valued at $2,992,192.20. The trade was a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,015 shares of company stock valued at $923,913 in the last quarter. 4.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on CRNX. TD Cowen initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating on the stock. HC Wainwright reiterated a "buy" rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Stifel Nicolaus began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price objective on the stock. Jefferies Financial Group raised Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price objective on the stock in a report on Wednesday, January 22nd. Finally, Wolfe Research began coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a "peer perform" rating on the stock. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Crinetics Pharmaceuticals Company 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.