Proficio Capital Partners LLC Purchases New Stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Proficio Capital Partners LLC purchased a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 14,674 shares of the company’s stock, valued at approximately $750,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRNX. Barclays PLC grew its position in Crinetics Pharmaceuticals by 75.5% in the third 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 period. Franklin Resources Inc. grew its position in Crinetics Pharmaceuticals by 61.4% in the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock worth $73,815,000 after acquiring an additional 528,688 shares during the period. Geode Capital Management LLC grew its position in Crinetics Pharmaceuticals by 10.1% in the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock worth $94,458,000 after acquiring an additional 169,746 shares during the period. SG Americas Securities LLC grew its position 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 worth $27,735,000 after acquiring an additional 529,483 shares during the period. Finally, Fisher Asset Management LLC grew its position in Crinetics Pharmaceuticals by 8.4% in the third 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.

Insider Activity at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the completion of the transaction, the insider now directly owns 31,748 shares in the company, valued at approximately $1,240,394.36. This trade represents a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard Scott Struthers sold 17,338 shares of Crinetics Pharmaceuticals 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 completion of the transaction, the chief executive officer now owns 329,147 shares of the company’s stock, valued at approximately $11,256,827.40. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,015 shares of company stock worth $1,119,263. Company insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Trading Up 0.3 %

NASDAQ:CRNX opened at $34.42 on Friday. The firm has a market cap of $3.20 billion, a PE ratio of -9.23 and a beta of 0.58. The stock has a fifty day moving average price of $36.22 and a 200 day moving average price of $48.11. Crinetics Pharmaceuticals, Inc. has a 12-month low of $31.84 and a 12-month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. Equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analysts Forecast Growth

CRNX has been the subject of several analyst reports. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, January 22nd. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a “peer perform” rating for the company. TD Cowen initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating for the company. HC Wainwright restated a “buy” rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Finally, JMP Securities restated a “market outperform” rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $74.30.

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.