Northern Trust Corp Purchases 149,298 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Northern Trust Corp boosted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 20.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 879,814 shares of the company's stock after purchasing an additional 149,298 shares during the period. Northern Trust Corp owned 0.95% of Crinetics Pharmaceuticals worth $44,985,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Barclays PLC lifted its holdings in Crinetics Pharmaceuticals by 75.5% during the 3rd quarter. Barclays PLC now owns 207,712 shares of the company's stock worth $10,614,000 after purchasing an additional 89,358 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Crinetics Pharmaceuticals by 0.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 285,956 shares of the company's stock worth $14,612,000 after acquiring an additional 894 shares during the period. Sanders Morris Harris LLC increased its stake in Crinetics Pharmaceuticals by 13.4% during the 4th quarter. Sanders Morris Harris LLC now owns 21,100 shares of the company's stock worth $1,079,000 after acquiring an additional 2,500 shares during the period. SG Americas Securities LLC increased its stake in Crinetics Pharmaceuticals by 4,084.6% during the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company's stock worth $27,735,000 after acquiring an additional 529,483 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of Crinetics Pharmaceuticals by 13.7% in the 4th 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 during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 7,162 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $244,940.40. Following the sale, the chief operating officer now owns 87,491 shares in the company, valued at $2,992,192.20. This represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dana Pizzuti sold 2,515 shares of the 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 sale, the insider now owns 72,233 shares in the company, valued at approximately $2,470,368.60. This represents a 3.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,015 shares of company stock valued at $923,913 over the last three months. Corporate insiders own 4.60% of the company's stock.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX traded up $2.64 during midday trading on Monday, reaching $33.32. The company's stock had a trading volume of 1,109,393 shares, compared to its average volume of 862,132. The firm has a 50 day moving average price of $31.96 and a two-hundred day moving average price of $42.33. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of -8.93 and a beta of 0.31.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.05). The business had revenue of $0.36 million during the quarter, compared to analysts' expectations of $0.10 million. The business's quarterly revenue was down 43.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.93) earnings per share. As a group, research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

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.