Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 56.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,200 shares of the company's stock after selling 43,501 shares during the period. Russell Investments Group Ltd.'s holdings in Crinetics Pharmaceuticals were worth $1,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of Crinetics Pharmaceuticals by 75.5% during the 3rd quarter. Barclays PLC now owns 207,712 shares of the company's stock valued at $10,614,000 after purchasing an additional 89,358 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Crinetics Pharmaceuticals by 61.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company's stock valued at $73,815,000 after purchasing an additional 528,688 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Crinetics Pharmaceuticals during the 4th quarter valued at about $818,000. SG Americas Securities LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 4,084.6% during the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company's stock valued at $27,735,000 after purchasing an additional 529,483 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Crinetics Pharmaceuticals by 0.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 285,956 shares of the company's stock valued at $14,612,000 after purchasing an additional 894 shares during the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ:CRNX traded down $0.44 during trading on Thursday, reaching $31.93. 71,251 shares of the company were exchanged, compared to its average volume of 1,045,045. The firm has a market capitalization of $2.97 billion, a PE ratio of -8.56 and a beta of 0.37. The business's fifty day simple moving average is $32.49 and its 200-day simple moving average is $44.44. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $62.53.

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

Insiders Place Their Bets

In related 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 transaction of $592,959.60. Following the completion of the sale, the chief executive officer now directly owns 329,147 shares in the company, valued at $11,256,827.40. This represents a 5.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dana Pizzuti sold 2,515 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 $86,013.00. Following the sale, the insider now owns 72,233 shares of the company's stock, valued at $2,470,368.60. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,015 shares of company stock worth $1,119,263 over the last 90 days. Company insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

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

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.