Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 42.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,003 shares of the company’s stock after buying an additional 7,192 shares during the quarter. Teacher Retirement System of Texas’ holdings in Crinetics Pharmaceuticals were worth $1,227,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Venturi Wealth Management LLC purchased a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at about $41,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at approximately $66,000. Advisors Asset Management Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock valued at $143,000 after purchasing an additional 1,008 shares during the last quarter. KBC Group NV lifted its position in 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 in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Crinetics Pharmaceuticals by 13.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company’s stock worth $254,000 after buying an additional 600 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Stock Down 0.5 %

CRNX opened at $34.73 on Friday. Crinetics Pharmaceuticals, Inc. has a 52 week low of $31.84 and a 52 week high of $62.53. The business has a fifty day simple moving average of $36.02 and a 200-day simple moving average of $47.55. The firm has a market cap of $3.23 billion, a P/E ratio of -9.31 and a beta of 0.58.

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

Analyst Ratings Changes

CRNX has been the subject of a number of recent research reports. Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating for the company. Jefferies Financial Group raised 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 note on Wednesday, January 22nd. Stifel Nicolaus started coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday. They issued a “buy” rating and a $60.00 target price on the stock. JMP Securities restated a “market outperform” rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Finally, TD Cowen assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Activity

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 2,515 shares of the stock in a transaction that occurred 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 represents a 3.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jeff E. Knight sold 7,162 shares of the firm’s stock in a transaction that occurred 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 directly 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. Over the last quarter, insiders sold 32,015 shares of company stock valued at $1,119,263. 6.00% of the stock is currently owned by company insiders.

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.