Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by Pier Capital LLC

Pier Capital LLC boosted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,999 shares of the company’s stock after buying an additional 3,638 shares during the quarter. Pier Capital LLC owned 0.12% of Crinetics Pharmaceuticals worth $5,727,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Venturi Wealth Management LLC purchased a new position in shares of Crinetics Pharmaceuticals during the 4th quarter worth approximately $41,000. Harvest Fund Management Co. Ltd purchased a new stake in Crinetics Pharmaceuticals in the fourth quarter valued at approximately $66,000. Advisors Asset Management Inc. boosted its position in shares of Crinetics Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock worth $143,000 after buying an additional 1,008 shares during the period. KBC Group NV boosted its position in shares of Crinetics Pharmaceuticals by 69.3% during the fourth 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 period. Finally, Commerce Bank acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at $212,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. JMP Securities reiterated a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating for the company. TD Cowen assumed coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating on the stock. Finally, 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 report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.30.

Insider Transactions at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 2,515 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $86,013.00. Following the sale, the insider now directly owns 72,233 shares in the company, valued at $2,470,368.60. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Jeff E. Knight sold 7,162 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $244,940.40. Following the completion of the transaction, the chief operating officer now owns 87,491 shares of the company’s stock, valued at $2,992,192.20. This represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,015 shares of company stock worth $1,119,263. 6.00% of the stock is currently owned by insiders.

Crinetics Pharmaceuticals Price Performance

Crinetics Pharmaceuticals stock opened at $35.94 on Tuesday. The stock’s fifty day moving average is $36.16 and its two-hundred day moving average is $47.97. The stock has a market cap of $3.34 billion, a PE ratio of -9.64 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 1-year low of $31.84 and a 1-year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

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.