Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Position Lowered by Duquesne Family Office LLC

Duquesne Family Office LLC trimmed its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 60.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,700 shares of the company’s stock after selling 186,300 shares during the period. Duquesne Family Office LLC’s holdings in Crinetics Pharmaceuticals were worth $6,274,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter valued at approximately $41,000. Headlands Technologies LLC bought a new stake in Crinetics Pharmaceuticals during the fourth quarter valued at $52,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth $66,000. KBC Group NV lifted its position in shares of Crinetics Pharmaceuticals by 69.3% in the 4th quarter. KBC Group NV now owns 3,712 shares of the company’s stock worth $190,000 after buying an additional 1,519 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Crinetics Pharmaceuticals by 13.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company’s stock worth $254,000 after buying an additional 600 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Crinetics Pharmaceuticals Stock Down 9.3 %

Shares of Crinetics Pharmaceuticals stock opened at $30.52 on Wednesday. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $62.53. The firm has a market capitalization of $2.86 billion, a PE ratio of -8.18 and a beta of 0.31. The stock’s fifty day moving average is $32.14 and its 200-day moving average is $43.01.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results 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. Analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Insiders Place Their Bets

In related news, COO Jeff E. Knight sold 7,162 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $244,940.40. Following the completion of the sale, the chief operating officer now directly owns 87,491 shares in the company, valued at approximately $2,992,192.20. The trade was a 7.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Scott Struthers sold 17,338 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was 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 of the company’s stock, valued at $11,256,827.40. The trade was a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,015 shares of company stock valued at $923,913 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

CRNX has been the topic of several research reports. HC Wainwright reiterated a “buy” rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. Wolfe Research started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a “peer perform” rating on the stock. TD Cowen assumed coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating for the company. Stifel Nicolaus assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, March 25th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.