GW&K Investment Management LLC Has $30.86 Million Stock Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

GW&K Investment Management LLC lifted its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 35.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 920,020 shares of the company's stock after acquiring an additional 240,897 shares during the quarter. GW&K Investment Management LLC owned 0.98% of Crinetics Pharmaceuticals worth $30,858,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. KBC Group NV grew its position in shares of Crinetics Pharmaceuticals by 10.0% in the 1st quarter. KBC Group NV now owns 4,082 shares of the company's stock worth $137,000 after acquiring an additional 370 shares in the last quarter. Martingale Asset Management L P grew its position in shares of Crinetics Pharmaceuticals by 1.9% in the 4th quarter. Martingale Asset Management L P now owns 22,484 shares of the company's stock worth $1,150,000 after acquiring an additional 410 shares in the last quarter. GF Fund Management CO. LTD. grew its position in shares of Crinetics Pharmaceuticals by 22.0% in the 1st quarter. GF Fund Management CO. LTD. now owns 2,375 shares of the company's stock worth $80,000 after acquiring an additional 428 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Crinetics Pharmaceuticals by 1.8% in the 1st quarter. Arizona State Retirement System now owns 23,899 shares of the company's stock worth $802,000 after purchasing an additional 430 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Crinetics Pharmaceuticals by 8.8% in the 4th quarter. Mackenzie Financial Corp now owns 5,422 shares of the company's stock worth $277,000 after purchasing an additional 440 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 97,483 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $32.23, for a total value of $3,141,877.09. Following the transaction, the insider owned 99,713 shares in the company, valued at $3,213,749.99. The trade was a 49.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.60% of the stock is owned by company insiders.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock traded down $0.15 on Friday, reaching $30.26. 128,208 shares of the company's stock traded hands, compared to its average volume of 929,741. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $62.53. The company has a market capitalization of $2.83 billion, a P/E ratio of -7.91 and a beta of 0.25. The business's 50 day moving average price is $30.92 and its two-hundred day moving average price is $33.25.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.05). The business had revenue of $0.36 million during the quarter, compared to analysts' expectations of $0.10 million. During the same quarter in the prior year, the business earned ($0.93) EPS. Crinetics Pharmaceuticals's quarterly revenue was down 43.6% on a year-over-year basis. Research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. The Goldman Sachs Group started coverage on Crinetics Pharmaceuticals in a report on Thursday, July 10th. They issued a "neutral" rating and a $36.00 price target on the stock. HC Wainwright reaffirmed a "buy" rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Friday, June 27th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $69.50.

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.