T. Rowe Price Investment Management Inc. Sells 65,650 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

T. Rowe Price Investment Management Inc. lowered its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 6.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,002,882 shares of the company's stock after selling 65,650 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 1.08% of Crinetics Pharmaceuticals worth $51,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Crinetics Pharmaceuticals by 44.6% in the 4th quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock worth $464,741,000 after acquiring an additional 2,801,736 shares in the last quarter. FMR LLC increased its holdings in shares of Crinetics Pharmaceuticals by 100.4% in the 4th quarter. FMR LLC now owns 8,928,086 shares of the company's stock valued at $456,493,000 after purchasing an additional 4,472,316 shares during the period. Wellington Management Group LLP lifted its position in shares of Crinetics Pharmaceuticals by 55.9% in the fourth quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock worth $355,382,000 after purchasing an additional 2,490,876 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Crinetics Pharmaceuticals by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,414,505 shares of the company's stock worth $276,844,000 after purchasing an additional 469,748 shares during the period. Finally, Geode Capital Management LLC grew its position in Crinetics Pharmaceuticals by 13.6% during the fourth quarter. Geode Capital Management LLC now owns 2,098,841 shares of the company's stock valued at $107,339,000 after purchasing an additional 250,708 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dana Pizzuti sold 2,515 shares of the firm's stock in a transaction dated 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 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. Over the last 90 days, insiders sold 32,015 shares of company stock worth $1,119,263. 6.00% of the stock is currently owned by company insiders.

Crinetics Pharmaceuticals Stock Up 0.8 %

NASDAQ:CRNX traded up $0.28 on Thursday, reaching $33.67. The stock had a trading volume of 303,750 shares, compared to its average volume of 858,970. The company has a market capitalization of $3.15 billion, a P/E ratio of -9.01 and a beta of 0.37. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $62.53. The stock has a fifty day moving average price of $32.16 and a 200-day moving average price of $43.79.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data 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. Sell-side analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

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