ProShare Advisors LLC Has $1.49 Million Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

ProShare Advisors LLC lifted its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 49.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,089 shares of the company's stock after buying an additional 9,655 shares during the period. ProShare Advisors LLC's holdings in Crinetics Pharmaceuticals were worth $1,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRNX. Martingale Asset Management L P lifted its position in Crinetics Pharmaceuticals by 1.9% during the fourth quarter. Martingale Asset Management L P now owns 22,484 shares of the company's stock valued at $1,150,000 after purchasing an additional 410 shares in the last quarter. NEOS Investment Management LLC raised its stake in Crinetics Pharmaceuticals by 0.9% during the fourth quarter. NEOS Investment Management LLC now owns 57,933 shares of the company's stock valued at $2,962,000 after purchasing an additional 544 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Crinetics Pharmaceuticals by 13.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company's stock valued at $254,000 after purchasing an additional 600 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in Crinetics Pharmaceuticals by 1.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 38,049 shares of the company's stock valued at $1,945,000 after acquiring an additional 708 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new position in Crinetics Pharmaceuticals during the fourth quarter valued at $41,000. Institutional investors own 98.51% of the company's stock.

Crinetics Pharmaceuticals Stock Down 0.7%

CRNX stock traded down $0.22 during trading on Tuesday, reaching $29.54. 88,707 shares of the company's stock were exchanged, compared to its average volume of 849,508. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $62.53. The company's fifty day moving average price is $31.19 and its 200-day moving average price is $40.27. The firm has a market cap of $2.77 billion, a PE ratio of -7.92 and a beta of 0.31.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.05). The firm had revenue of $0.36 million during the quarter, compared to analyst estimates of $0.10 million. During the same period last year, the company posted ($0.93) earnings per share. The firm's revenue was down 43.6% compared to the same quarter last year. As a group, sell-side analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 2,515 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $86,013.00. Following the completion of the transaction, the insider now owns 72,233 shares in the company, valued at approximately $2,470,368.60. The trade was a 3.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Scott Struthers sold 17,338 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 $592,959.60. Following the completion of the sale, the chief executive officer now directly owns 329,147 shares of the company's stock, valued at $11,256,827.40. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,015 shares of company stock worth $923,913. 4.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.