Venturi Wealth Management LLC Invests $41,000 in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Venturi Wealth Management LLC acquired a new position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 800 shares of the company’s stock, valued at approximately $41,000.

Other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in shares of Crinetics Pharmaceuticals in the third quarter worth about $91,000. KBC Group NV raised its position in Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after acquiring an additional 407 shares in the last quarter. Advisors Asset Management Inc. raised its position in Crinetics Pharmaceuticals by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock valued at $143,000 after acquiring an additional 1,008 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Crinetics Pharmaceuticals by 23.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $147,000 after acquiring an additional 541 shares in the last quarter. Finally, Commerce Bank purchased a new position in Crinetics Pharmaceuticals during the third quarter valued at approximately $212,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on CRNX shares. JMP Securities reiterated a “market outperform” rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Wolfe Research started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating for the company. TD Cowen started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating for the company. Citigroup lifted their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Jefferies Financial Group upgraded 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. 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 stock currently has an average rating of “Moderate Buy” and an average price target of $72.64.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ:CRNX opened at $32.30 on Wednesday. The business’s 50 day moving average price is $42.31 and its 200-day moving average price is $50.41. The firm has a market capitalization of $3.00 billion, a PE ratio of -8.66 and a beta of 0.56. Crinetics Pharmaceuticals, Inc. has a 1 year low of $31.84 and a 1 year high of $62.53.

Insider Transactions at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total transaction of $195,350.00. Following the transaction, the insider now owns 31,748 shares of the company’s stock, valued at approximately $1,240,394.36. The trade was a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.00% of the company’s stock.

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.