Teacher Retirement System of Texas Grows Stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Teacher Retirement System of Texas grew its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 42.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,003 shares of the company’s stock after purchasing an additional 7,192 shares during the period. Teacher Retirement System of Texas’ holdings in Crinetics Pharmaceuticals were worth $1,227,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Barclays PLC increased its position in Crinetics Pharmaceuticals by 75.5% during the 3rd quarter. Barclays PLC now owns 207,712 shares of the company’s stock valued at $10,614,000 after buying an additional 89,358 shares in the last quarter. Franklin Resources Inc. grew its stake 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 acquiring an additional 528,688 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 purchasing an additional 169,746 shares during the last quarter. SG Americas Securities LLC boosted its stake 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 worth $27,735,000 after purchasing an additional 529,483 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Crinetics Pharmaceuticals by 4.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,747 shares of the company’s stock worth $13,886,000 after purchasing an additional 10,767 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Buying and Selling

In related news, COO Jeff E. Knight sold 7,162 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 87,491 shares in the company, valued at $2,992,192.20. This represents a 7.57 % decrease in their position. The transaction 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 the firm’s stock in a transaction dated Wednesday, March 19th. The shares were 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 $2,470,368.60. This represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,015 shares of company stock valued at $1,119,263. 6.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CRNX shares. HC Wainwright reaffirmed a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Stifel Nicolaus assumed coverage on Crinetics Pharmaceuticals in a research note on Tuesday. They issued a “buy” rating and a $60.00 target price for the company. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, January 22nd. Wolfe Research began coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating for the company. Finally, JMP Securities reiterated a “market outperform” rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Crinetics Pharmaceuticals Price Performance

CRNX opened at $34.73 on Friday. The firm has a fifty day moving average price of $36.02 and a 200 day moving average price of $47.55. Crinetics Pharmaceuticals, Inc. has a 1 year low of $31.84 and a 1 year high of $62.53. The stock has a market cap of $3.23 billion, a P/E ratio of -9.31 and a beta of 0.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. Equities analysts expect 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.