Xponance Inc. Has $321,000 Stock Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Xponance Inc. increased its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 22.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,284 shares of the company’s stock after acquiring an additional 1,168 shares during the quarter. Xponance Inc.’s holdings in Crinetics Pharmaceuticals were worth $321,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRNX. SG Americas Securities LLC increased its holdings in shares of Crinetics Pharmaceuticals by 4,084.6% in the fourth quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock worth $27,735,000 after acquiring an additional 529,483 shares in the last quarter. Franklin Resources Inc. increased its stake in 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 in the last quarter. FMR LLC raised its holdings in Crinetics Pharmaceuticals by 8.8% during the 3rd quarter. FMR LLC now owns 4,455,770 shares of the company’s stock worth $227,690,000 after buying an additional 358,975 shares during the period. Vestal Point Capital LP bought a new position in Crinetics Pharmaceuticals in the third quarter valued at approximately $10,476,000. Finally, Geode Capital Management LLC lifted its stake in 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 buying an additional 169,746 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.

Crinetics Pharmaceuticals Trading Up 1.1 %

NASDAQ:CRNX opened at $34.90 on Friday. The stock has a market capitalization of $3.25 billion, a PE ratio of -9.36 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 1-year low of $31.84 and a 1-year high of $62.53. The firm has a fifty day simple moving average of $36.07 and a 200 day simple moving average of $47.68.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. On average, equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating for the company. Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, January 22nd. 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. Stifel Nicolaus started coverage on Crinetics Pharmaceuticals in a research report on Tuesday. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating for the company. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Crinetics Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Insiders Place Their Bets

In other news, COO Jeff E. Knight sold 7,162 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $244,940.40. Following the transaction, the chief operating officer now directly owns 87,491 shares of the company’s stock, valued at $2,992,192.20. This represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals 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 of the company’s stock, 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. Insiders have sold a total of 32,015 shares of company stock valued at $1,119,263 over the last 90 days. 6.00% of the stock is currently owned by insiders.

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.