Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Position Lessened by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. reduced its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 85.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,876 shares of the company’s stock after selling 55,813 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Crinetics Pharmaceuticals were worth $505,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CRNX. Vanguard Group Inc. grew its stake in shares of Crinetics Pharmaceuticals by 44.6% in the 4th quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company’s stock valued at $464,741,000 after buying an additional 2,801,736 shares in the last quarter. FMR LLC lifted its stake in Crinetics Pharmaceuticals by 100.4% in the fourth quarter. FMR LLC now owns 8,928,086 shares of the company’s stock valued at $456,493,000 after acquiring an additional 4,472,316 shares during the last quarter. Wellington Management Group LLP grew its position in Crinetics Pharmaceuticals by 55.9% in 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. Driehaus Capital Management LLC increased its holdings in shares of Crinetics Pharmaceuticals by 4.3% during the 4th quarter. Driehaus Capital Management LLC now owns 6,141,014 shares of the company’s stock valued at $313,990,000 after acquiring an additional 255,766 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Crinetics Pharmaceuticals by 9.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,414,505 shares of the company’s stock valued at $276,844,000 after acquiring an additional 469,748 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They set a “buy” rating and a $60.00 price target for the company. Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a “peer perform” rating on the stock. Finally, TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating for the company. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.56.

Crinetics Pharmaceuticals Stock Down 1.2%

NASDAQ:CRNX opened at $29.76 on Monday. The firm has a market cap of $2.79 billion, a PE ratio of -7.98 and a beta of 0.31. Crinetics Pharmaceuticals, Inc. has a 12 month low of $24.10 and a 12 month high of $62.53. The company’s 50-day moving average price is $31.29 and its two-hundred day moving average price is $40.49.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.05). The company had revenue of $0.36 million for the quarter, compared to analyst estimates of $0.10 million. During the same quarter last year, the business posted ($0.93) EPS. The firm’s quarterly revenue was down 43.6% compared to the same quarter last year. On average, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Insider Transactions at Crinetics Pharmaceuticals

In other news, CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $592,959.60. Following the completion of the transaction, the chief executive officer now directly owns 329,147 shares in the company, valued at $11,256,827.40. This represents a 5.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeff E. Knight sold 7,162 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $244,940.40. Following the completion of the transaction, the chief operating officer now directly owns 87,491 shares in the company, valued at $2,992,192.20. The trade was a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,015 shares of company stock valued at $923,913 over the last 90 days. 4.60% of the stock is owned by company insiders.

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.