Ensign Peak Advisors Inc Sells 114,147 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Ensign Peak Advisors Inc reduced its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 18.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 502,690 shares of the company's stock after selling 114,147 shares during the quarter. Ensign Peak Advisors Inc owned about 0.54% of Crinetics Pharmaceuticals worth $25,703,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CRNX. Barclays PLC increased its holdings 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 acquiring an additional 89,358 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Crinetics Pharmaceuticals in the 4th quarter valued at $818,000. SG Americas Securities LLC increased its holdings in shares of Crinetics Pharmaceuticals by 4,084.6% in 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 period. JPMorgan Chase & Co. increased its holdings 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 acquiring an additional 894 shares during the period. Finally, Alliancebernstein L.P. grew its stake in Crinetics Pharmaceuticals by 9.9% during the 4th quarter. Alliancebernstein L.P. now owns 101,720 shares of the company's stock worth $5,201,000 after buying an additional 9,190 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CRNX shares. TD Cowen started coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a "buy" rating on the stock. Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a research note on Tuesday, March 25th. They set a "buy" rating and a $60.00 target price on the stock. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a "peer perform" rating for the company. HC Wainwright reaffirmed a "buy" rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Finally, Jefferies Financial Group raised Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 7,162 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 $244,940.40. Following the sale, the chief operating officer now directly owns 87,491 shares in the company, valued at $2,992,192.20. This trade represents a 7.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard Scott Struthers sold 17,338 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 $592,959.60. Following the completion of the sale, the chief executive officer now owns 329,147 shares in the company, valued at $11,256,827.40. This represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,015 shares of company stock worth $923,913. 4.60% of the stock is owned by insiders.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX traded down $2.37 during mid-day trading on Tuesday, hitting $30.95. The stock had a trading volume of 1,519,626 shares, compared to its average volume of 861,652. The company has a market cap of $2.90 billion, a PE ratio of -8.30 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. The company's 50 day moving average is $31.88 and its 200-day moving average is $42.08.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $0.10 million. The company's quarterly revenue was down 43.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.93) EPS. On average, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal 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.