Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock Position Lifted by Decheng Capital LLC

Decheng Capital LLC boosted its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,958 shares of the company's stock after purchasing an additional 10,000 shares during the period. Crinetics Pharmaceuticals accounts for approximately 1.8% of Decheng Capital LLC's holdings, making the stock its 10th largest holding. Decheng Capital LLC owned approximately 0.18% of Crinetics Pharmaceuticals worth $8,588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Barclays PLC increased its stake in shares of Crinetics Pharmaceuticals by 75.5% in the 3rd quarter. Barclays PLC now owns 207,712 shares of the company's stock valued at $10,614,000 after buying an additional 89,358 shares during the period. Franklin Resources Inc. increased its stake 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 buying an additional 528,688 shares during the period. Principal Financial Group Inc. increased its stake in shares of Crinetics Pharmaceuticals by 488.5% in the 3rd quarter. Principal Financial Group Inc. now owns 77,709 shares of the company's stock valued at $3,971,000 after buying an additional 64,504 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Crinetics Pharmaceuticals by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 285,956 shares of the company's stock valued at $14,612,000 after buying an additional 894 shares during the period. Finally, Sanders Morris Harris LLC increased its stake in shares of Crinetics Pharmaceuticals by 13.4% in the 4th quarter. Sanders Morris Harris LLC now owns 21,100 shares of the company's stock valued at $1,079,000 after buying an additional 2,500 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Stock Up 0.3 %

Shares of CRNX stock traded up $0.11 on Thursday, reaching $33.50. The stock had a trading volume of 348,908 shares, compared to its average volume of 859,110. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -8.98 and a beta of 0.37. Crinetics Pharmaceuticals, Inc. has a 12 month low of $24.10 and a 12 month high of $62.53. The firm's 50-day moving average is $32.16 and its two-hundred day moving average is $43.79.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.04. On average, sell-side analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of the firm'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 directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dana Pizzuti sold 2,515 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 $86,013.00. Following the completion of the sale, the insider now owns 72,233 shares of the company's stock, valued at $2,470,368.60. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,015 shares of company stock valued at $1,119,263 in the last quarter. Insiders own 6.00% of the company's stock.

Analyst Ratings Changes

CRNX has been the subject of several research reports. HC Wainwright reissued a "buy" rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. TD Cowen began coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating on the stock. Wolfe Research began coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a "peer perform" rating on the stock. Stifel Nicolaus assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price target on the stock. Finally, Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Crinetics Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price 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.