Allspring Global Investments Holdings LLC Invests $91,000 in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Allspring Global Investments Holdings LLC purchased a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,786 shares of the company’s stock, valued at approximately $91,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of Crinetics Pharmaceuticals by 366,571.4% during the 1st quarter. Russell Investments Group Ltd. now owns 51,334 shares of the company’s stock valued at $2,403,000 after buying an additional 51,320 shares during the last quarter. Swiss National Bank boosted its stake in Crinetics Pharmaceuticals by 21.4% during the first quarter. Swiss National Bank now owns 126,500 shares of the company’s stock worth $5,921,000 after buying an additional 22,300 shares during the period. Vanguard Group Inc. grew its position in Crinetics Pharmaceuticals by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company’s stock valued at $167,349,000 after acquiring an additional 72,624 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Crinetics Pharmaceuticals by 1,224.8% during the second quarter. SG Americas Securities LLC now owns 79,051 shares of the company’s stock worth $3,541,000 after buying an additional 73,084 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Crinetics Pharmaceuticals by 27.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company’s stock worth $178,966,000 after acquiring an additional 814,360 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX stock opened at $56.82 on Tuesday. The firm has a market capitalization of $4.55 billion, a P/E ratio of -14.89 and a beta of 0.62. The company’s fifty day moving average price is $53.78 and its two-hundred day moving average price is $50.25. Crinetics Pharmaceuticals, Inc. has a 12 month low of $25.75 and a 12 month high of $60.04.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The company had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.47 million. During the same period in the previous year, the company posted ($0.94) earnings per share. The firm’s revenue was down 59.6% on a year-over-year basis. On average, sell-side analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Wall Street Analyst Weigh In

CRNX has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. JPMorgan Chase & Co. increased their target price on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. HC Wainwright upped their price objective on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a research note on Friday, August 9th. JMP Securities restated a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Finally, Oppenheimer reissued an “outperform” rating and set a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $68.55.

Insiders Place Their Bets

In other news, insider Dana Pizzuti sold 14,375 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total value of $785,306.25. Following the completion of the sale, the insider now directly owns 28,507 shares of the company’s stock, valued at approximately $1,557,337.41. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Marc Wilson sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the completion of the sale, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at $5,677,912.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total transaction of $785,306.25. Following the sale, the insider now directly owns 28,507 shares of the company’s stock, valued at approximately $1,557,337.41. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,410 shares of company stock worth $2,275,929. Insiders own 6.00% of the company’s stock.

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.