Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 14.5% during the fourth quarter, Holdings Channel reports. The fund owned 1,591,666 shares of the company’s stock after purchasing an additional 201,556 shares during the quarter. Franklin Resources Inc.’s holdings in Crinetics Pharmaceuticals were worth $81,382,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CRNX. Vanguard Group Inc. raised its holdings in Crinetics Pharmaceuticals by 44.6% in the fourth quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company’s stock valued at $464,741,000 after acquiring an additional 2,801,736 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Crinetics Pharmaceuticals by 55.9% in the 4th quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company’s stock valued at $355,382,000 after purchasing an additional 2,490,876 shares in the last quarter. State Street Corp lifted its position in shares of Crinetics Pharmaceuticals by 0.9% during the third quarter. State Street Corp now owns 2,838,484 shares of the company’s stock worth $145,047,000 after purchasing an additional 25,561 shares during the last quarter. Geode Capital Management LLC grew its stake in Crinetics Pharmaceuticals by 10.1% in the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock worth $94,458,000 after purchasing an additional 169,746 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Crinetics Pharmaceuticals by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 759,126 shares of the company’s stock valued at $38,814,000 after buying an additional 103,708 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Transactions at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 2,515 shares of the company’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 sale, the insider now owns 72,233 shares of the company’s stock, valued at $2,470,368.60. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Jeff E. Knight sold 7,162 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $244,940.40. Following the completion of the transaction, the chief operating officer now owns 87,491 shares of the company’s stock, valued at $2,992,192.20. This represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,015 shares of company stock valued at $1,119,263. 6.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Wolfe Research began coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a “peer perform” rating on the stock. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a “buy” rating for the company. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, January 22nd. Finally, Stifel Nicolaus started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They set a “buy” rating and a $60.00 price objective for the company. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Crinetics Pharmaceuticals Trading Down 8.0 %

NASDAQ CRNX opened at $28.87 on Friday. The company has a 50-day moving average price of $35.43 and a two-hundred day moving average price of $46.99. Crinetics Pharmaceuticals, Inc. has a 52 week low of $28.48 and a 52 week high of $62.53. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -7.74 and a beta of 0.37.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, equities research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

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.