Sei Investments Co. Sells 429 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Sei Investments Co. trimmed its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,727 shares of the company’s stock after selling 429 shares during the quarter. Sei Investments Co.’s holdings in Crinetics Pharmaceuticals were worth $2,849,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRNX. SG Americas Securities LLC lifted its stake in Crinetics Pharmaceuticals by 4,084.6% in the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock valued at $27,735,000 after acquiring an additional 529,483 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Crinetics Pharmaceuticals by 61.4% in the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock valued at $73,815,000 after purchasing an additional 528,688 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 10.1% in the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock worth $94,458,000 after purchasing an additional 169,746 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Crinetics Pharmaceuticals by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 759,126 shares of the company’s stock worth $38,814,000 after purchasing an additional 103,708 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Crinetics Pharmaceuticals by 23.4% in the fourth quarter. American Century Companies Inc. now owns 477,298 shares of the company’s stock valued at $24,404,000 after purchasing an additional 90,412 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, January 22nd. Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They issued a “buy” rating and a $60.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. JMP Securities reaffirmed a “market outperform” rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Finally, TD Cowen started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Crinetics Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Insider Buying and Selling

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

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ:CRNX opened at $26.89 on Friday. Crinetics Pharmaceuticals, Inc. has a 1 year low of $26.48 and a 1 year high of $62.53. The company has a market capitalization of $2.50 billion, a PE ratio of -7.21 and a beta of 0.37. The business has a fifty day moving average price of $35.19 and a two-hundred day moving average price of $46.80.

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