Schonfeld Strategic Advisors LLC Has $22.80 Million Stock Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Schonfeld Strategic Advisors LLC trimmed its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 9.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 445,946 shares of the company’s stock after selling 44,779 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Crinetics Pharmaceuticals were worth $22,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northern Trust Corp grew its stake in Crinetics Pharmaceuticals by 20.4% during the fourth quarter. Northern Trust Corp now owns 879,814 shares of the company’s stock worth $44,985,000 after purchasing an additional 149,298 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Crinetics Pharmaceuticals by 11.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 148,956 shares of the company’s stock valued at $7,616,000 after acquiring an additional 14,869 shares in the last quarter. Decheng Capital LLC increased its stake in shares of Crinetics Pharmaceuticals by 6.3% in the 4th quarter. Decheng Capital LLC now owns 167,958 shares of the company’s stock valued at $8,588,000 after acquiring an additional 10,000 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in shares of Crinetics Pharmaceuticals during the 4th quarter valued at $1,417,000. Finally, Boothbay Fund Management LLC boosted its stake in Crinetics Pharmaceuticals by 25.9% during the fourth quarter. Boothbay Fund Management LLC now owns 137,752 shares of the company’s stock worth $7,043,000 after acquiring an additional 28,327 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on CRNX shares. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, January 22nd. TD Cowen began coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating for the company. Wolfe Research initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating for the company. Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They set a “buy” rating and a $60.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Insider Activity

In other news, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the sale, the insider now owns 31,748 shares in the company, valued at $1,240,394.36. This trade represents a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard Scott Struthers sold 17,338 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $592,959.60. Following the transaction, the chief executive officer now owns 329,147 shares of the company’s stock, valued at approximately $11,256,827.40. This represents a 5.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,015 shares of company stock valued at $1,119,263 in the last quarter. 6.00% of the stock is currently owned by insiders.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX opened at $33.31 on Wednesday. The firm’s 50-day simple moving average is $32.25 and its two-hundred day simple moving average is $43.87. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53. The stock has a market cap of $3.12 billion, a PE ratio of -8.93 and a beta of 0.37.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.04. Equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

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.