Crinetics Pharmaceuticals, Inc. $CRNX Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,311,600 shares of the company's stock after acquiring an additional 222,209 shares during the quarter. Vanguard Group Inc. owned 9.95% of Crinetics Pharmaceuticals worth $312,311,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farallon Capital Management LLC boosted its position in shares of Crinetics Pharmaceuticals by 250.7% in the 4th quarter. Farallon Capital Management LLC now owns 4,075,098 shares of the company's stock worth $208,360,000 after buying an additional 2,913,098 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Crinetics Pharmaceuticals by 21.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,788,939 shares of the company's stock worth $142,598,000 after buying an additional 488,296 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Crinetics Pharmaceuticals by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,414,505 shares of the company's stock valued at $276,844,000 after purchasing an additional 469,748 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Crinetics Pharmaceuticals by 15.1% in the 4th quarter. Janus Henderson Group PLC now owns 2,795,441 shares of the company's stock valued at $142,902,000 after purchasing an additional 365,991 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Crinetics Pharmaceuticals in the 4th quarter valued at about $17,117,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Crinetics Pharmaceuticals in a report on Thursday, July 10th. They issued a "neutral" rating and a $36.00 target price on the stock. HC Wainwright restated a "buy" rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Friday, June 27th. Finally, JMP Securities reduced their target price on shares of Crinetics Pharmaceuticals from $90.00 to $86.00 and set a "market outperform" rating on the stock in a report on Monday, August 11th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $68.86.

Insider Buying and Selling

In related news, insider Stephen F. Betz sold 97,483 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $32.23, for a total transaction of $3,141,877.09. Following the completion of the sale, the insider owned 99,713 shares of the company's stock, valued at approximately $3,213,749.99. This represents a 49.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dana Pizzuti sold 6,492 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $29.18, for a total transaction of $189,436.56. Following the sale, the insider directly owned 66,270 shares of the company's stock, valued at approximately $1,933,758.60. This trade represents a 8.92% decrease in their position. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by corporate insiders.

Crinetics Pharmaceuticals Trading Up 5.2%

Shares of NASDAQ CRNX traded up $1.52 on Friday, reaching $30.92. 1,364,804 shares of the company traded hands, compared to its average volume of 1,003,256. 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 moving average of $30.02 and a 200 day moving average of $31.67. The stock has a market capitalization of $2.91 billion, a PE ratio of -7.52 and a beta of 0.33.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($1.23) EPS for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.10). The firm had revenue of $1.03 million for the quarter, compared to the consensus estimate of $0.52 million. Crinetics Pharmaceuticals's revenue was up 158.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.94) earnings per share. As a group, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

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.