Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 4,084.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 542,446 shares of the company’s stock after purchasing an additional 529,483 shares during the quarter. SG Americas Securities LLC’s holdings in Crinetics Pharmaceuticals were worth $27,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CRNX. Driehaus Capital Management LLC raised its holdings in Crinetics Pharmaceuticals by 17.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company’s stock worth $273,764,000 after buying an additional 885,876 shares during the period. Franklin Resources Inc. raised its holdings in Crinetics Pharmaceuticals by 61.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock worth $73,815,000 after buying an additional 528,688 shares during the period. FMR LLC raised its holdings in Crinetics Pharmaceuticals by 8.8% during the 3rd quarter. FMR LLC now owns 4,455,770 shares of the company’s stock worth $227,690,000 after buying an additional 358,975 shares during the period. Vestal Point Capital LP acquired a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth about $10,476,000. Finally, Geode Capital Management LLC raised its holdings in Crinetics Pharmaceuticals by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock worth $94,458,000 after buying an additional 169,746 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insiders Place Their Bets

In other news, COO Jeff E. Knight sold 501 shares of Crinetics Pharmaceuticals stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $56.52, for a total transaction of $28,316.52. Following the transaction, the chief operating officer now owns 51,653 shares in the company, valued at $2,919,427.56. The trade was a 0.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

CRNX has been the topic of several recent analyst reports. JMP Securities restated a “market outperform” rating and set a $87.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday. Citigroup upped their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Crinetics Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $72.64.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX opened at $38.65 on Thursday. Crinetics Pharmaceuticals, Inc. has a twelve month low of $35.51 and a twelve month high of $62.53. The firm has a market cap of $3.58 billion, a PE ratio of -10.36 and a beta of 0.60. The business has a fifty day moving average of $51.60 and a 200-day moving average of $52.87.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same period in the previous year, the business posted ($1.01) earnings per share. On average, analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal 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.