Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 527,792 shares of the company’s stock after buying an additional 13,598 shares during the quarter. Nuveen Asset Management LLC’s holdings in Crinetics Pharmaceuticals were worth $26,986,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CRNX. Barclays PLC boosted its holdings in shares of Crinetics Pharmaceuticals by 75.5% during the third quarter. Barclays PLC now owns 207,712 shares of the company’s stock worth $10,614,000 after purchasing an additional 89,358 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 4,084.6% during the fourth 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. Janney Montgomery Scott LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 13.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company’s stock worth $254,000 after purchasing an additional 600 shares during the last quarter. KBC Group NV boosted its holdings in shares of Crinetics Pharmaceuticals by 69.3% during the fourth quarter. KBC Group NV now owns 3,712 shares of the company’s stock worth $190,000 after purchasing an additional 1,519 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 3.8% during the fourth quarter. Moody Aldrich Partners LLC now owns 144,366 shares of the company’s stock worth $7,381,000 after purchasing an additional 5,236 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Trading Up 0.5%

Shares of CRNX opened at $30.11 on Friday. The firm has a market capitalization of $2.82 billion, a P/E ratio of -8.07 and a beta of 0.31. The stock’s fifty day simple moving average is $31.37 and its 200 day simple moving average is $40.95. Crinetics Pharmaceuticals, Inc. has a twelve month low of $24.10 and a twelve month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, May 8th. The company reported ($1.04) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.05). The company had revenue of $0.36 million during the quarter, compared to analyst estimates of $0.10 million. The company’s revenue for the quarter was down 43.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.93) earnings per share. Sell-side analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the transaction, the chief executive officer now directly owns 329,147 shares of the company’s stock, valued at $11,256,827.40. This trade represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dana Pizzuti sold 2,515 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $86,013.00. Following the completion of the transaction, the insider now directly owns 72,233 shares in the company, valued at $2,470,368.60. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,015 shares of company stock valued at $923,913 over the last three months. 4.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CRNX shares. Stifel Nicolaus started coverage on Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They set a “buy” rating and a $60.00 price objective on the stock. Wolfe Research started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They set a “peer perform” rating on the stock. Finally, TD Cowen started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

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.