NEOS Investment Management LLC Purchases 544 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

NEOS Investment Management LLC increased its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 0.9% during the 4th quarter, Holdings Channel reports. The firm owned 57,933 shares of the company’s stock after buying an additional 544 shares during the period. NEOS Investment Management LLC’s holdings in Crinetics Pharmaceuticals were worth $2,962,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Pier Capital LLC grew its position in shares of Crinetics Pharmaceuticals by 3.4% in the 4th quarter. Pier Capital LLC now owns 111,999 shares of the company’s stock worth $5,727,000 after buying an additional 3,638 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Crinetics Pharmaceuticals in the fourth quarter worth $7,690,000. Prudential Financial Inc. boosted its holdings in Crinetics Pharmaceuticals by 60.5% in the fourth quarter. Prudential Financial Inc. now owns 277,370 shares of the company’s stock valued at $14,182,000 after acquiring an additional 104,584 shares in the last quarter. Corebridge Financial Inc. raised its holdings in Crinetics Pharmaceuticals by 4.8% in the 4th quarter. Corebridge Financial Inc. now owns 43,599 shares of the company’s stock worth $2,229,000 after purchasing an additional 1,992 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Crinetics Pharmaceuticals by 44.6% in the 4th quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company’s stock worth $464,741,000 after purchasing an additional 2,801,736 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CRNX. Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating on the stock. JMP Securities reissued a “market outperform” rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. TD Cowen assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Finally, Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Crinetics Pharmaceuticals Stock Performance

NASDAQ:CRNX opened at $34.73 on Friday. The firm has a market cap of $3.23 billion, a P/E ratio of -9.31 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $31.84 and a fifty-two week high of $62.53. The firm has a 50-day simple moving average of $36.02 and a two-hundred day simple moving average of $47.55.

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

Insider Transactions at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 2,515 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $86,013.00. Following the completion of the transaction, the insider now directly owns 72,233 shares of the company’s stock, valued at $2,470,368.60. The trade was a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jeff E. Knight sold 7,162 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $244,940.40. Following the completion of the sale, the chief operating officer now owns 87,491 shares in the company, valued at $2,992,192.20. This represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,015 shares of company stock worth $1,119,263 over the last quarter. 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.