Nuveen Asset Management LLC Grows Stock Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Nuveen Asset Management LLC lifted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 527,792 shares of the company's stock after acquiring an additional 13,598 shares during the period. Nuveen Asset Management LLC owned approximately 0.57% of Crinetics Pharmaceuticals worth $26,986,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC lifted 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 last quarter. Farallon Capital Management LLC lifted its position in Crinetics Pharmaceuticals by 250.7% in the fourth quarter. Farallon Capital Management LLC now owns 4,075,098 shares of the company's stock valued at $208,360,000 after purchasing an additional 2,913,098 shares during the last quarter. Vanguard Group Inc. lifted its position in Crinetics Pharmaceuticals by 44.6% in the fourth quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock valued at $464,741,000 after purchasing an additional 2,801,736 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Crinetics Pharmaceuticals by 55.9% during the fourth quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock valued at $355,382,000 after acquiring an additional 2,490,876 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake 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 valued at $27,735,000 after acquiring an additional 529,483 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a "peer perform" rating for the company. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a "buy" rating on the stock. Finally, Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a research note on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.56.

Insider Transactions at Crinetics Pharmaceuticals

In related news, CEO Richard Scott Struthers sold 17,338 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $592,959.60. Following the transaction, the chief executive officer now directly owns 329,147 shares in the company, valued at approximately $11,256,827.40. This represents a 5.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jeff E. Knight sold 7,162 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $244,940.40. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,015 shares of company stock worth $923,913 in the last three months. Insiders own 4.60% of the company's stock.

Crinetics Pharmaceuticals Stock Up 3.0%

NASDAQ CRNX traded up $0.88 on Wednesday, reaching $30.38. The company had a trading volume of 197,887 shares, compared to its average volume of 852,313. The stock has a market capitalization of $2.84 billion, a PE ratio of -8.16 and a beta of 0.31. The firm's 50 day moving average price is $31.09 and its 200 day moving average price is $40.20. Crinetics Pharmaceuticals, Inc. has a 12 month low of $24.10 and a 12 month high of $62.53.

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

Crinetics Pharmaceuticals 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.