Diadema Partners LP Purchases Shares of 25,900 Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Diadema Partners LP acquired a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 25,900 shares of the company’s stock, valued at approximately $1,324,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC increased its position in shares of 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 purchasing an additional 4,472,316 shares during the last quarter. Vanguard Group Inc. increased its holdings in Crinetics Pharmaceuticals by 44.6% during the fourth quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company’s stock worth $464,741,000 after buying an additional 2,801,736 shares during the last quarter. Wellington Management Group LLP raised its position in Crinetics Pharmaceuticals by 55.9% during the fourth quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company’s stock worth $355,382,000 after acquiring an additional 2,490,876 shares in the last quarter. SG Americas Securities LLC lifted its stake in Crinetics Pharmaceuticals by 4,084.6% in the fourth quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock valued at $27,735,000 after acquiring an additional 529,483 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Crinetics Pharmaceuticals by 61.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock valued at $73,815,000 after acquiring an additional 528,688 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 31,748 shares of the company’s stock, valued at approximately $1,240,394.36. The trade was a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Scott Struthers sold 17,338 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 $592,959.60. Following the sale, the chief executive officer now directly owns 329,147 shares in the company, valued at approximately $11,256,827.40. This trade represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,015 shares of company stock worth $1,119,263 over the last 90 days. Insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Stock Down 0.9 %

CRNX stock opened at $30.15 on Tuesday. The company’s 50-day moving average price is $32.62 and its two-hundred day moving average price is $44.62. Crinetics Pharmaceuticals, Inc. has a 12 month low of $24.10 and a 12 month high of $62.53. The firm has a market cap of $2.81 billion, a P/E ratio of -8.08 and a beta of 0.37.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results 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. Equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Analyst Upgrades and Downgrades

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