Wells Fargo & Company MN Buys 16,025 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Wells Fargo & Company MN raised its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 100,916 shares of the company's stock after purchasing an additional 16,025 shares during the quarter. Wells Fargo & Company MN owned 0.11% of Crinetics Pharmaceuticals worth $5,160,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Barclays PLC grew its position 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 acquiring an additional 89,358 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Crinetics Pharmaceuticals by 61.4% during the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company's stock worth $73,815,000 after purchasing an additional 528,688 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Crinetics Pharmaceuticals in the fourth quarter valued at approximately $818,000. SG Americas Securities LLC raised its holdings in Crinetics Pharmaceuticals by 4,084.6% in the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company's stock valued at $27,735,000 after buying an additional 529,483 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position 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 buying an additional 894 shares during the period. Institutional investors and hedge funds own 98.51% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports 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 research note on Wednesday, January 22nd. TD Cowen started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating on the stock. Stifel Nicolaus started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They set a "buy" rating and a $60.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Finally, Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a "peer perform" rating on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 7,162 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $244,940.40. Following the transaction, the chief operating officer now directly owns 87,491 shares of the company's stock, valued at $2,992,192.20. The trade was a 7.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dana Pizzuti sold 2,515 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $86,013.00. Following the completion of the transaction, the insider now directly owns 72,233 shares in the company, valued at approximately $2,470,368.60. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,015 shares of company stock worth $1,119,263 in the last ninety days. 6.00% of the stock is currently owned by insiders.

Crinetics Pharmaceuticals Trading Down 4.4 %

Shares of CRNX stock traded down $1.47 during trading hours on Friday, hitting $31.92. 231,482 shares of the company were exchanged, compared to its average volume of 856,910. Crinetics Pharmaceuticals, Inc. has a 52-week low of $24.10 and a 52-week high of $62.53. The firm has a fifty day simple moving average of $32.45 and a 200 day simple moving average of $44.31. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -8.56 and a beta of 0.37.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.04. Sell-side analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS 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.