RWA Wealth Partners LLC Invests $203,000 in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

RWA Wealth Partners LLC purchased a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,696 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in Crinetics Pharmaceuticals by 1.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,640,235 shares of the company’s stock valued at $108,261,000 after purchasing an additional 38,523 shares during the last quarter. Vanguard Group Inc. raised its stake in Crinetics Pharmaceuticals by 24.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock valued at $101,325,000 after purchasing an additional 674,301 shares during the last quarter. Jennison Associates LLC raised its stake in Crinetics Pharmaceuticals by 77.7% in the 4th quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock valued at $90,647,000 after purchasing an additional 1,113,992 shares during the last quarter. FMR LLC raised its stake in Crinetics Pharmaceuticals by 97.7% in the 3rd quarter. FMR LLC now owns 2,140,861 shares of the company’s stock valued at $63,669,000 after purchasing an additional 1,057,947 shares during the last quarter. Finally, Eventide Asset Management LLC increased its stake in shares of Crinetics Pharmaceuticals by 134.3% during the 3rd quarter. Eventide Asset Management LLC now owns 1,018,782 shares of the company’s stock valued at $30,299,000 after acquiring an additional 584,014 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CRNX. Cantor Fitzgerald upped their price objective on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Oppenheimer upped their price objective on shares of Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Robert W. Baird upped their price objective on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Citigroup began coverage on shares of Crinetics Pharmaceuticals in a research note on Wednesday, March 6th. They set a “buy” rating and a $68.00 price objective for the company. Finally, Jonestrading upped their price objective on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Crinetics Pharmaceuticals Stock Down 0.4 %

NASDAQ CRNX opened at $42.12 on Friday. The stock has a market cap of $2.93 billion, a PE ratio of -11.38 and a beta of 0.63. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $15.76 and a fifty-two week high of $49.58. The business has a 50 day moving average price of $42.91 and a two-hundred day moving average price of $36.57.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 52.93% and a negative net margin of 4,223.27%. The business’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.84) earnings per share. Sell-side analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 14,375 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $44.47, for a total value of $639,256.25. Following the completion of the transaction, the insider now owns 27,786 shares in the company, valued at approximately $1,235,643.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Matthew K. Fust sold 60,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $44.14, for a total transaction of $2,648,400.00. Following the completion of the transaction, the director now directly owns 18,536 shares in the company, valued at approximately $818,179.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $44.47, for a total value of $639,256.25. Following the transaction, the insider now owns 27,786 shares of the company’s stock, valued at $1,235,643.42. The disclosure for this sale can be found here. Insiders sold a total of 187,216 shares of company stock worth $8,509,397 in the last 90 days. 7.00% of the stock is owned by company insiders.

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.