American Century Companies Inc. Boosts Stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

American Century Companies Inc. lifted its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 23.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 477,298 shares of the company’s stock after buying an additional 90,412 shares during the period. American Century Companies Inc. owned approximately 0.51% of Crinetics Pharmaceuticals worth $24,404,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new position in shares of Crinetics Pharmaceuticals during the fourth quarter worth $41,000. Harvest Fund Management Co. Ltd purchased a new position in Crinetics Pharmaceuticals during the 4th quarter worth $66,000. Advisors Asset Management Inc. increased its position in Crinetics Pharmaceuticals by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock valued at $143,000 after buying an additional 1,008 shares in the last quarter. KBC Group NV raised its stake 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 buying an additional 1,519 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Crinetics Pharmaceuticals by 13.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company’s stock worth $254,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, 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 directly owns 87,491 shares in the company, valued at approximately $2,992,192.20. This represents a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dana Pizzuti sold 2,515 shares of the 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 transaction, the insider now directly owns 72,233 shares in the company, valued at approximately $2,470,368.60. The trade was a 3.36 % decrease in their ownership of the stock. 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. Corporate insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Trading Down 0.5 %

Shares of CRNX stock opened at $34.73 on Friday. Crinetics Pharmaceuticals, Inc. has a twelve month low of $31.84 and a twelve month high of $62.53. The stock has a market cap of $3.23 billion, a P/E ratio of -9.31 and a beta of 0.58. The stock has a 50 day moving average of $36.02 and a 200 day moving average of $47.53.

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

Wall Street Analysts Forecast Growth

CRNX has been the subject of several research analyst reports. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, January 22nd. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating for the company. Stifel Nicolaus assumed coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They set a “buy” rating and a $60.00 price objective on the stock. Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. One investment analyst has rated the stock with a hold rating and twelve have assigned 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 $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.