Jane Street Group LLC Decreases Stock Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Jane Street Group LLC lowered its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 94.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,404 shares of the company's stock after selling 122,188 shares during the period. Jane Street Group LLC's holdings in Crinetics Pharmaceuticals were worth $379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of CRNX. Vanguard Group Inc. raised its holdings in shares of Crinetics Pharmaceuticals by 44.6% in the fourth quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock worth $464,741,000 after buying an additional 2,801,736 shares during the period. FMR LLC increased its stake in Crinetics Pharmaceuticals by 100.4% in the fourth quarter. FMR LLC now owns 8,928,086 shares of the company's stock worth $456,493,000 after purchasing an additional 4,472,316 shares during the period. Wellington Management Group LLP increased its stake in Crinetics Pharmaceuticals by 55.9% in the fourth quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock worth $355,382,000 after purchasing an additional 2,490,876 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Crinetics Pharmaceuticals by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,414,505 shares of the company's stock worth $276,844,000 after purchasing an additional 469,748 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Crinetics Pharmaceuticals by 13.6% during the fourth quarter. Geode Capital Management LLC now owns 2,098,841 shares of the company's stock valued at $107,339,000 after purchasing an additional 250,708 shares during the period. Hedge funds and other institutional investors own 98.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wolfe Research started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a "peer perform" rating for the company. 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 objective for the company. Finally, TD Cowen started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $74.56.

Crinetics Pharmaceuticals Stock Up 0.1%

Shares of NASDAQ:CRNX traded up $0.03 during trading on Wednesday, reaching $32.13. 547,249 shares of the company's stock traded hands, compared to its average volume of 850,881. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53. The company has a 50-day simple moving average of $30.64 and a 200-day simple moving average of $39.20. The firm has a market cap of $3.01 billion, a PE ratio of -8.61 and a beta of 0.31.

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

Insider Transactions at Crinetics Pharmaceuticals

In related news, COO Jeff E. Knight sold 7,162 shares of Crinetics Pharmaceuticals 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 owns 87,491 shares of the company's stock, valued at approximately $2,992,192.20. This trade represents a 7.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dana Pizzuti sold 2,515 shares of the business'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 directly owns 72,233 shares of the company's stock, valued at approximately $2,470,368.60. The trade was a 3.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,015 shares of company stock valued at $923,913 in the last three months. 4.60% of the stock is currently owned by company insiders.

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.