RWA Wealth Partners LLC Buys Shares of 5,696 Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

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

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in Crinetics Pharmaceuticals by 1.1% in the third quarter. Wellington Management Group LLP now owns 3,640,235 shares of the company’s stock valued at $108,261,000 after acquiring an additional 38,523 shares during the last quarter. Vanguard Group Inc. lifted its stake in Crinetics Pharmaceuticals by 24.7% in the third quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock valued at $101,325,000 after acquiring an additional 674,301 shares during the last quarter. Jennison Associates LLC lifted its stake in Crinetics Pharmaceuticals by 77.7% in the fourth quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock valued at $90,647,000 after acquiring an additional 1,113,992 shares during the last quarter. FMR LLC lifted its stake in Crinetics Pharmaceuticals by 97.7% in the third quarter. FMR LLC now owns 2,140,861 shares of the company’s stock valued at $63,669,000 after acquiring an additional 1,057,947 shares during the last quarter. Finally, Eventide Asset Management LLC lifted its stake in Crinetics Pharmaceuticals by 134.3% in the third 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. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Price Performance

NASDAQ:CRNX opened at $42.12 on Friday. The stock has a market cap of $2.93 billion, a P/E ratio of -11.38 and a beta of 0.63. Crinetics Pharmaceuticals, Inc. has a one year low of $15.76 and a one year high of $49.58. The company has a fifty day moving average price of $42.91 and a 200 day moving average price of $36.57.

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

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 15,089 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $44.06, for a total value of $664,821.34. Following the sale, the insider now owns 27,786 shares of the company’s stock, valued at approximately $1,224,251.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Dana Pizzuti sold 15,089 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $44.06, for a total value of $664,821.34. Following the sale, the insider now owns 27,786 shares of the company’s stock, valued at approximately $1,224,251.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Marc Wilson sold 6,942 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $42.91, for a total transaction of $297,881.22. Following the completion of the sale, the chief financial officer now directly owns 110,630 shares in the company, valued at approximately $4,747,133.30. The disclosure for this sale can be found here. Insiders have sold 187,216 shares of company stock valued at $8,509,397 in the last 90 days. 7.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. HC Wainwright restated a “buy” rating and issued a $50.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Tuesday, March 19th. Oppenheimer boosted their price objective on shares of Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Jonestrading boosted their price objective on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Citigroup assumed coverage on shares of Crinetics Pharmaceuticals in a research note on Wednesday, March 6th. They issued a “buy” rating and a $68.00 price objective for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $54.00.

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.