Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Acquired by Castleark Management LLC

Castleark Management LLC boosted its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 77,780 shares of the company’s stock after purchasing an additional 4,440 shares during the quarter. Castleark Management LLC owned about 0.08% of Crinetics Pharmaceuticals worth $3,977,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of Crinetics Pharmaceuticals by 75.5% during the 3rd quarter. Barclays PLC now owns 207,712 shares of the company’s stock worth $10,614,000 after buying an additional 89,358 shares during the last quarter. SG Americas Securities LLC raised its stake in Crinetics Pharmaceuticals by 4,084.6% during the 4th 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 in the last quarter. Janney Montgomery Scott LLC lifted its position in Crinetics Pharmaceuticals by 13.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company’s stock valued at $254,000 after acquiring an additional 600 shares during the last quarter. KBC Group NV lifted its position in Crinetics Pharmaceuticals by 69.3% in the fourth quarter. KBC Group NV now owns 3,712 shares of the company’s stock valued at $190,000 after acquiring an additional 1,519 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its stake in Crinetics Pharmaceuticals by 3.8% in the fourth quarter. Moody Aldrich Partners LLC now owns 144,366 shares of the company’s stock valued at $7,381,000 after acquiring an additional 5,236 shares in the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Trading Down 4.5%

NASDAQ:CRNX opened at $29.95 on Thursday. The firm has a market cap of $2.80 billion, a P/E ratio of -8.03 and a beta of 0.31. The stock’s 50 day simple moving average is $31.48 and its 200-day simple moving average is $41.13. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $62.53.

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

Insider Activity

In other news, insider Dana Pizzuti sold 2,515 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was 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 of the company’s stock, valued at approximately $2,470,368.60. This represents a 3.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jeff E. Knight sold 7,162 shares of Crinetics Pharmaceuticals 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 sale, the chief operating officer now owns 87,491 shares in the company, valued at approximately $2,992,192.20. This trade represents a 7.57% decrease in their ownership of the stock. 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 quarter. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CRNX shares. Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They set a “buy” rating and a $60.00 target price on the stock. TD Cowen started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock. Wolfe Research began coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a “peer perform” rating for the company. Finally, Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.