Schroder Investment Management Group Takes Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Schroder Investment Management Group purchased a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 29,361 shares of the company’s stock, valued at approximately $1,488,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Venturi Wealth Management LLC acquired a new position in Crinetics Pharmaceuticals in the fourth quarter worth $41,000. Harvest Fund Management Co. Ltd bought a new stake in Crinetics Pharmaceuticals during the 4th quarter worth about $66,000. KBC Group NV increased its position in Crinetics Pharmaceuticals by 69.3% in the 4th quarter. KBC Group NV now owns 3,712 shares of the company’s stock valued at $190,000 after acquiring an additional 1,519 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of 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 during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in shares of Crinetics Pharmaceuticals by 19.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 5,038 shares of the company’s stock worth $258,000 after purchasing an additional 822 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CRNX shares. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Wednesday, January 22nd. TD Cowen started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating for the company. JMP Securities reiterated a “market outperform” rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Stifel Nicolaus started coverage on Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX opened at $26.89 on Monday. The company has a 50 day moving average price of $35.19 and a two-hundred day moving average price of $46.71. The company has a market capitalization of $2.50 billion, a PE ratio of -7.21 and a beta of 0.37. Crinetics Pharmaceuticals, Inc. has a 52 week low of $26.48 and a 52 week high of $62.53.

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

Insiders Place Their Bets

In other news, COO Jeff E. Knight sold 7,162 shares of the company’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 value of $244,940.40. Following the completion of the transaction, the chief operating officer now owns 87,491 shares in the company, valued at $2,992,192.20. This represents a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dana Pizzuti sold 2,515 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $86,013.00. Following the sale, the insider now 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. Insiders sold 32,015 shares of company stock worth $1,119,263 over the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

Crinetics Pharmaceuticals Company 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.