Proficio Capital Partners LLC Acquires Shares of 14,674 Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Proficio Capital Partners LLC acquired a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,674 shares of the company’s stock, valued at approximately $750,000.

Several other institutional investors also recently bought and sold shares of CRNX. SG Americas Securities LLC grew its holdings in Crinetics Pharmaceuticals by 4,084.6% in the fourth quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock valued at $27,735,000 after purchasing an additional 529,483 shares during the period. Franklin Resources Inc. lifted its position 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 acquiring an additional 528,688 shares in the last quarter. FMR LLC lifted its position in shares of Crinetics Pharmaceuticals by 8.8% in the third quarter. FMR LLC now owns 4,455,770 shares of the company’s stock valued at $227,690,000 after acquiring an additional 358,975 shares in the last quarter. Vestal Point Capital LP purchased a new position in shares of Crinetics Pharmaceuticals in the third quarter valued at approximately $10,476,000. Finally, 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 valued at $94,458,000 after acquiring an additional 169,746 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the completion of the sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is owned by insiders.

Crinetics Pharmaceuticals Stock Down 2.4 %

CRNX stock opened at $33.28 on Friday. The business has a fifty day moving average of $39.21 and a two-hundred day moving average of $49.42. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of -8.92 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 52-week low of $31.84 and a 52-week high of $62.53.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRNX shares. TD Cowen started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating on the stock. HC Wainwright restated a “buy” rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. JMP Securities restated a “market outperform” rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Citigroup raised their target price 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, Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.64.

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.