Xponance Inc. Buys 1,168 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Xponance Inc. boosted its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 22.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,284 shares of the company’s stock after acquiring an additional 1,168 shares during the period. Xponance Inc.’s holdings in Crinetics Pharmaceuticals were worth $321,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Barclays PLC grew 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 worth $10,614,000 after purchasing an additional 89,358 shares in the last quarter. Franklin Resources Inc. boosted its stake in 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 buying an additional 528,688 shares in the last quarter. Geode Capital Management LLC increased its holdings in Crinetics Pharmaceuticals by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock valued at $94,458,000 after buying an additional 169,746 shares during the period. SG Americas Securities LLC raised its stake in shares of 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 in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Crinetics Pharmaceuticals by 8.4% during the 3rd quarter. Fisher Asset Management LLC now owns 482,099 shares of the company’s stock worth $24,635,000 after acquiring an additional 37,429 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

CRNX has been the subject of several recent research reports. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating for the company. Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a “peer perform” rating for the company. Finally, HC Wainwright restated a “buy” rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Insider Activity

In other news, COO Jeff E. Knight sold 7,162 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $244,940.40. Following the completion of the sale, the chief operating officer now owns 87,491 shares in the company, valued at $2,992,192.20. The trade was a 7.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dana Pizzuti sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the completion of the transaction, the insider now owns 31,748 shares in the company, valued at $1,240,394.36. This represents a 13.61 % 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 valued at $1,119,263 over the last 90 days. 6.00% of the stock is owned by company insiders.

Crinetics Pharmaceuticals Trading Up 1.1 %

CRNX opened at $34.90 on Friday. Crinetics Pharmaceuticals, Inc. has a 1-year low of $31.84 and a 1-year high of $62.53. The stock has a market capitalization of $3.25 billion, a PE ratio of -9.36 and a beta of 0.58. The firm has a 50-day moving average price of $36.07 and a two-hundred day moving average price of $47.68.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

About Crinetics Pharmaceuticals

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.