Sanders Morris Harris LLC Boosts Stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Sanders Morris Harris LLC grew its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 13.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,100 shares of the company’s stock after acquiring an additional 2,500 shares during the period. Sanders Morris Harris LLC’s holdings in Crinetics Pharmaceuticals were worth $1,079,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Driehaus Capital Management LLC grew its stake in Crinetics Pharmaceuticals by 17.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company’s stock valued at $273,764,000 after purchasing an additional 885,876 shares in the last quarter. Franklin Resources Inc. increased its stake 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 worth $73,815,000 after buying an additional 528,688 shares during the last quarter. Farallon Capital Management LLC raised its holdings in Crinetics Pharmaceuticals by 9,840.0% in the second quarter. Farallon Capital Management LLC now owns 497,000 shares of the company’s stock valued at $22,261,000 after acquiring an additional 492,000 shares in the last quarter. Hood River Capital Management LLC bought a new position in Crinetics Pharmaceuticals during the 2nd quarter valued at $18,379,000. Finally, FMR LLC grew 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 acquiring an additional 358,975 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 501 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total value of $28,316.52. Following the sale, the chief operating officer now owns 51,653 shares in the company, valued at approximately $2,919,427.56. This trade represents a 0.96 % 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. 6.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CRNX shares. Citigroup upped 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. HC Wainwright restated a “buy” rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $74.40.

Crinetics Pharmaceuticals Trading Down 0.9 %

Shares of NASDAQ CRNX opened at $36.40 on Thursday. Crinetics Pharmaceuticals, Inc. has a 12-month low of $35.24 and a 12-month high of $62.53. The company has a market cap of $3.38 billion, a price-to-earnings ratio of -9.76 and a beta of 0.60. The stock’s 50 day simple moving average is $53.79 and its 200 day simple moving average is $53.11.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same quarter in the prior year, the company posted ($1.01) earnings per share. As a group, equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

About Crinetics Pharmaceuticals

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.