Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Acquired by Gilder Gagnon Howe & Co. LLC

Gilder Gagnon Howe & Co. LLC increased its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 98.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,044 shares of the company's stock after buying an additional 12,429 shares during the quarter. Gilder Gagnon Howe & Co. LLC's holdings in Crinetics Pharmaceuticals were worth $1,280,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CRNX. Venturi Wealth Management LLC acquired a new position in Crinetics Pharmaceuticals during the fourth quarter worth $41,000. Headlands Technologies LLC purchased a new position in Crinetics Pharmaceuticals in the 4th quarter valued at about $52,000. Harvest Fund Management Co. Ltd acquired a new stake in Crinetics Pharmaceuticals in the 4th quarter worth about $66,000. KBC Group NV increased its stake in Crinetics Pharmaceuticals by 69.3% during the 4th quarter. KBC Group NV now owns 3,712 shares of the company's stock worth $190,000 after buying an additional 1,519 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of 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 acquiring an additional 600 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CRNX. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research report on Wednesday, January 22nd. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating for the company. HC Wainwright reissued a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. Stifel Nicolaus assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, March 25th. They set a "buy" rating and a $60.00 price objective for the company. Finally, Wolfe Research started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They set a "peer perform" rating on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the sale, the chief executive officer now owns 329,147 shares of the company's stock, valued at approximately $11,256,827.40. This represents a 5.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the transaction, the insider now directly owns 31,748 shares of the company's stock, valued at $1,240,394.36. This trade represents a 13.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,015 shares of company stock valued at $1,119,263. 6.00% of the stock is owned by company insiders.

Crinetics Pharmaceuticals Stock Up 3.2 %

NASDAQ:CRNX traded up $1.09 during trading hours on Friday, reaching $34.61. 420,070 shares of the company's stock were exchanged, compared to its average volume of 857,637. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -9.26 and a beta of 0.37. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $62.53. The company has a 50-day moving average of $32.14 and a 200 day moving average of $43.66.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.92) by $0.04. Research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal 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.