Guggenheim Capital LLC Cuts Stock Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Guggenheim Capital LLC reduced its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,143 shares of the company’s stock after selling 2,019 shares during the period. Guggenheim Capital LLC’s holdings in Crinetics Pharmaceuticals were worth $1,337,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter worth $41,000. Headlands Technologies LLC purchased a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter valued at $52,000. Harvest Fund Management Co. Ltd bought a new stake in Crinetics Pharmaceuticals in the 4th quarter worth about $66,000. KBC Group NV raised its position in Crinetics Pharmaceuticals by 69.3% in the 4th quarter. KBC Group NV now owns 3,712 shares of the company’s stock worth $190,000 after buying an additional 1,519 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Crinetics Pharmaceuticals by 13.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company’s stock valued at $254,000 after acquiring an additional 600 shares during the period. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of Crinetics Pharmaceuticals stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the transaction, the chief executive officer now owns 329,147 shares in the company, valued at $11,256,827.40. The trade was a 5.00 % 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, insider Dana Pizzuti sold 2,515 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 $86,013.00. Following the sale, the insider now directly owns 72,233 shares of the company’s stock, valued at approximately $2,470,368.60. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,015 shares of company stock worth $1,119,263 in the last ninety days. 6.00% of the stock is owned by company insiders.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX opened at $30.15 on Tuesday. The business has a 50 day simple moving average of $32.62 and a two-hundred day simple moving average of $44.62. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $62.53. The stock has a market capitalization of $2.81 billion, a PE ratio of -8.08 and a beta of 0.37.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. On average, analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in 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. TD Cowen initiated coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating on the stock. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, January 22nd. Stifel Nicolaus initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.