Janney Montgomery Scott LLC Purchases 600 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Janney Montgomery Scott LLC boosted its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 13.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,975 shares of the company’s stock after purchasing an additional 600 shares during the period. Janney Montgomery Scott LLC’s holdings in Crinetics Pharmaceuticals were worth $254,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRNX. SG Americas Securities LLC increased its stake in shares of Crinetics Pharmaceuticals by 4,084.6% during the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock worth $27,735,000 after purchasing an additional 529,483 shares during the last quarter. Sanders Morris Harris LLC increased its stake in shares of Crinetics Pharmaceuticals by 13.4% during the 4th quarter. Sanders Morris Harris LLC now owns 21,100 shares of the company’s stock worth $1,079,000 after purchasing an additional 2,500 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Crinetics Pharmaceuticals by 0.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 285,956 shares of the company’s stock worth $14,612,000 after purchasing an additional 894 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Crinetics Pharmaceuticals by 488.5% during the 3rd quarter. Principal Financial Group Inc. now owns 77,709 shares of the company’s stock worth $3,971,000 after purchasing an additional 64,504 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Crinetics Pharmaceuticals by 61.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock worth $73,815,000 after purchasing an additional 528,688 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Insider Activity at Crinetics Pharmaceuticals

In related news, COO Jeff E. Knight sold 501 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $56.52, for a total transaction of $28,316.52. Following the sale, the chief operating officer now owns 51,653 shares of the company’s stock, valued at $2,919,427.56. The trade was a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the insider now directly owns 31,748 shares in the company, valued at $1,240,394.36. The trade was a 13.61 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ CRNX opened at $35.21 on Thursday. Crinetics Pharmaceuticals, Inc. has a 1 year low of $34.07 and a 1 year high of $62.53. The company’s 50-day moving average is $46.12 and its 200 day moving average is $51.37. The stock has a market capitalization of $3.27 billion, a P/E ratio of -9.44 and a beta of 0.56.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter in the prior year, the firm posted ($1.01) EPS. Research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating for the company. TD Cowen assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday. They issued a “buy” rating for the company. Jefferies Financial Group upgraded 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 note on Wednesday, January 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. One investment 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 has an average rating of “Moderate Buy” and an average price target of $72.64.

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.