Parkman Healthcare Partners LLC Has $2.61 Million Stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Parkman Healthcare Partners LLC decreased its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 34.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,133 shares of the company's stock after selling 26,490 shares during the period. Parkman Healthcare Partners LLC owned about 0.06% of Crinetics Pharmaceuticals worth $2,614,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CRNX. Vanguard Group Inc. grew its stake in shares of Crinetics Pharmaceuticals by 44.6% in the 4th quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock valued at $464,741,000 after purchasing an additional 2,801,736 shares during the period. FMR LLC grew its position in Crinetics Pharmaceuticals by 100.4% during the 4th quarter. FMR LLC now owns 8,928,086 shares of the company's stock worth $456,493,000 after acquiring an additional 4,472,316 shares during the last quarter. Wellington Management Group LLP boosted its position in Crinetics Pharmaceuticals by 55.9% in the 4th quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock valued at $355,382,000 after buying an additional 2,490,876 shares during the last quarter. Driehaus Capital Management LLC increased its stake in shares of Crinetics Pharmaceuticals by 4.3% in the 4th quarter. Driehaus Capital Management LLC now owns 6,141,014 shares of the company's stock valued at $313,990,000 after buying an additional 255,766 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 469,748 shares during the period. Institutional investors and hedge funds own 98.51% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of the firm'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 trade represents a 5.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dana Pizzuti sold 2,515 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly 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 have sold 27,015 shares of company stock valued at $923,913 over the last 90 days. 4.60% of the stock is owned by corporate insiders.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX traded down $0.17 during trading on Monday, reaching $31.07. 187,769 shares of the company's stock were exchanged, compared to its average volume of 859,113. The business has a 50 day moving average price of $31.73 and a 200-day moving average price of $41.46. The stock has a market capitalization of $2.91 billion, a P/E ratio of -8.33 and a beta of 0.31. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.05). The firm had revenue of $0.36 million during the quarter, compared to the consensus estimate of $0.10 million. During the same quarter last year, the firm earned ($0.93) earnings per share. The company's revenue was down 43.6% compared to the same quarter last year. 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.