US Bancorp DE Sells 5,176 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

US Bancorp DE cut its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 45.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,312 shares of the company’s stock after selling 5,176 shares during the quarter. US Bancorp DE’s holdings in Crinetics Pharmaceuticals were worth $323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CRNX. Venturi Wealth Management LLC bought a new position in shares of Crinetics Pharmaceuticals in the fourth quarter valued at $41,000. KBC Group NV grew its stake in shares of Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after buying an additional 407 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Crinetics Pharmaceuticals by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock valued at $143,000 after buying an additional 1,008 shares in the last quarter. Commerce Bank bought a new position in shares of Crinetics Pharmaceuticals in the third quarter valued at $212,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Crinetics Pharmaceuticals in the third quarter valued at $215,000. 98.51% of the stock is owned by institutional investors.

Crinetics Pharmaceuticals Stock Down 1.0 %

CRNX stock opened at $35.04 on Friday. The company has a market cap of $3.26 billion, a PE ratio of -9.39 and a beta of 0.58. The business has a 50-day simple moving average of $38.22 and a 200 day simple moving average of $49.02. Crinetics Pharmaceuticals, Inc. has a 52 week low of $31.84 and a 52 week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. JMP Securities reaffirmed a “market outperform” rating and set a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Jefferies Financial Group raised shares of 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. Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating for the company. Finally, HC Wainwright reissued a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.64.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.07, for a total transaction of $195,350.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.