Proficio Capital Partners LLC Makes New $750,000 Investment in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Proficio Capital Partners LLC purchased a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,674 shares of the company’s stock, valued at approximately $750,000.

Other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter valued at about $41,000. KBC Group NV lifted its holdings in shares of Crinetics Pharmaceuticals by 22.8% in the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after purchasing an additional 407 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Crinetics Pharmaceuticals by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock valued at $143,000 after purchasing an additional 1,008 shares during the last quarter. Commerce Bank purchased a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at about $212,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at about $215,000. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CRNX shares. Wolfe Research started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a “peer perform” rating for the company. Citigroup boosted their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, November 14th. TD Cowen assumed coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating for the company. JMP Securities reaffirmed a “market outperform” rating and set a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Finally, Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.64.

Crinetics Pharmaceuticals Trading Down 2.4 %

NASDAQ CRNX opened at $33.28 on Friday. The business’s 50 day moving average is $39.21 and its two-hundred day moving average is $49.42. Crinetics Pharmaceuticals, Inc. has a 12-month low of $31.84 and a 12-month high of $62.53. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -8.92 and a beta of 0.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.04. Equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total transaction of $195,350.00. Following the transaction, the insider now owns 31,748 shares in the company, valued at approximately $1,240,394.36. The trade was a 13.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.