JPMorgan Chase & Co. Has $13.78 Million Stock Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

JPMorgan Chase & Co. trimmed its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 5.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 269,543 shares of the company's stock after selling 16,413 shares during the period. JPMorgan Chase & Co. owned about 0.29% of Crinetics Pharmaceuticals worth $13,782,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CRNX. Janney Montgomery Scott LLC boosted its stake in shares of Crinetics Pharmaceuticals by 13.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company's stock worth $254,000 after acquiring an additional 600 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Crinetics Pharmaceuticals by 1.9% in the 4th 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 purchasing an additional 708 shares during the period. Venturi Wealth Management LLC purchased a new position in Crinetics Pharmaceuticals in the 4th quarter worth about $41,000. Oppenheimer Asset Management Inc. raised its holdings in Crinetics Pharmaceuticals by 19.5% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 5,038 shares of the company's stock worth $258,000 after buying an additional 822 shares during the period. Finally, Assetmark Inc. lifted its stake in Crinetics Pharmaceuticals by 5.9% during the fourth quarter. Assetmark Inc. now owns 18,161 shares of the company's stock valued at $929,000 after buying an additional 1,014 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Crinetics Pharmaceuticals Trading Up 0.6 %

Crinetics Pharmaceuticals stock traded up $0.19 during mid-day trading on Thursday, hitting $29.77. 91,293 shares of the company's stock were exchanged, compared to its average volume of 1,056,092. The stock has a market cap of $2.77 billion, a P/E ratio of -7.97 and a beta of 0.37. The stock has a 50 day moving average of $32.94 and a two-hundred day moving average of $45.19. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $62.53.

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

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 2,515 shares of the stock in a transaction dated Wednesday, March 19th. The shares were 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 of the company's stock, valued at $2,470,368.60. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 329,147 shares of the company's stock, valued at approximately $11,256,827.40. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,015 shares of company stock valued at $1,119,263 in the last 90 days. 6.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.