Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Arizona State Retirement System

Arizona State Retirement System reduced its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,789 shares of the company’s stock after selling 281 shares during the period. Arizona State Retirement System’s holdings in Crinetics Pharmaceuticals were worth $526,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Crinetics Pharmaceuticals by 16.3% during the second quarter. BlackRock Inc. now owns 4,600,486 shares of the company’s stock worth $82,901,000 after buying an additional 644,128 shares during the period. Wellington Management Group LLP increased its holdings in shares of Crinetics Pharmaceuticals by 1.1% in the third quarter. Wellington Management Group LLP now owns 3,640,235 shares of the company’s stock valued at $108,261,000 after buying an additional 38,523 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 24.7% in the third quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock valued at $101,325,000 after buying an additional 674,301 shares in the last quarter. State Street Corp increased its holdings in shares of Crinetics Pharmaceuticals by 0.9% in the second quarter. State Street Corp now owns 2,237,735 shares of the company’s stock valued at $40,324,000 after buying an additional 18,941 shares in the last quarter. Finally, FMR LLC raised its stake in Crinetics Pharmaceuticals by 97.7% during the 3rd quarter. FMR LLC now owns 2,140,861 shares of the company’s stock valued at $63,669,000 after purchasing an additional 1,057,947 shares during the period. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on CRNX shares. Morgan Stanley initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, January 16th. They set an “overweight” rating and a $50.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a report on Thursday, March 28th. Citigroup began coverage on shares of Crinetics Pharmaceuticals in a report on Wednesday, March 6th. They set a “buy” rating and a $68.00 price target for the company. Oppenheimer upped their price target on shares of Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Cantor Fitzgerald upped their price objective on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.17.

Crinetics Pharmaceuticals Stock Down 0.1 %

NASDAQ:CRNX opened at $42.97 on Friday. Crinetics Pharmaceuticals, Inc. has a 12-month low of $15.76 and a 12-month high of $49.58. The firm has a 50-day moving average price of $42.42 and a 200 day moving average price of $36.10. The firm has a market capitalization of $2.99 billion, a PE ratio of -11.61 and a beta of 0.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 52.93% and a negative net margin of 4,223.27%. During the same quarter last year, the business earned ($0.84) EPS. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. On average, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.34 EPS for the current year.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 3,000 shares of Crinetics Pharmaceuticals stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $37.26, for a total value of $111,780.00. Following the sale, the insider now directly owns 73,298 shares in the company, valued at approximately $2,731,083.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $44.47, for a total value of $639,256.25. Following the completion of the transaction, the insider now owns 27,786 shares of the company’s stock, valued at approximately $1,235,643.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen F. Betz sold 3,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $37.26, for a total transaction of $111,780.00. Following the completion of the transaction, the insider now directly owns 73,298 shares of the company’s stock, valued at approximately $2,731,083.48. The disclosure for this sale can be found here. Insiders have sold a total of 190,216 shares of company stock worth $8,621,177 over the last ninety days. Company insiders own 7.00% of the company’s stock.

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.