Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock Position Raised by Legal & General Group Plc

Legal & General Group Plc lifted its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 16.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 88,939 shares of the company's stock after purchasing an additional 12,538 shares during the quarter. Legal & General Group Plc owned approximately 0.10% of Crinetics Pharmaceuticals worth $4,547,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in Crinetics Pharmaceuticals during the 4th quarter worth $41,000. Headlands Technologies LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $52,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Crinetics Pharmaceuticals during the fourth quarter worth about $66,000. KBC Group NV increased its position in Crinetics Pharmaceuticals by 69.3% in the 4th quarter. KBC Group NV now owns 3,712 shares of the company's stock valued at $190,000 after acquiring an additional 1,519 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Crinetics Pharmaceuticals by 13.7% during the 4th 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 currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 2,515 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $86,013.00. Following the transaction, the insider now owns 72,233 shares in the company, valued at approximately $2,470,368.60. This trade represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Richard Scott Struthers sold 17,338 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 32,015 shares of company stock worth $1,119,263 in the last 90 days. 6.00% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Crinetics Pharmaceuticals Trading Down 3.0 %

Shares of NASDAQ CRNX traded down $1.00 during midday trading on Friday, reaching $32.39. 835,521 shares of the stock were exchanged, compared to its average volume of 860,349. The company has a market capitalization of $3.01 billion, a P/E ratio of -8.68 and a beta of 0.37. The stock has a 50 day moving average price of $32.39 and a 200-day moving average price of $44.18. Crinetics Pharmaceuticals, Inc. has a 52-week low of $24.10 and a 52-week high of $62.53.

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 for the quarter, beating the consensus estimate of ($0.92) by $0.04. On average, analysts forecast 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.