KBC Group NV Raises Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

KBC Group NV raised its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 22.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,193 shares of the company’s stock after purchasing an additional 407 shares during the quarter. KBC Group NV’s holdings in Crinetics Pharmaceuticals were worth $112,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRNX. AQR Capital Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 3.3% in the 2nd quarter. AQR Capital Management LLC now owns 7,126 shares of the company’s stock worth $319,000 after purchasing an additional 227 shares during the period. US Bancorp DE boosted its position in Crinetics Pharmaceuticals by 3.4% during the 3rd quarter. US Bancorp DE now owns 11,488 shares of the company’s stock valued at $587,000 after acquiring an additional 373 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Crinetics Pharmaceuticals by 20.8% during the 2nd quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock worth $121,000 after acquiring an additional 464 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Crinetics Pharmaceuticals by 23.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock worth $147,000 after acquiring an additional 541 shares in the last quarter. Finally, Comerica Bank bought a new stake in shares of Crinetics Pharmaceuticals during the first quarter valued at approximately $33,000. 98.51% of the stock is currently owned by institutional investors.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX opened at $57.10 on Friday. Crinetics Pharmaceuticals, Inc. has a 1 year low of $29.72 and a 1 year high of $62.53. The company has a market capitalization of $5.30 billion, a PE ratio of -15.31 and a beta of 0.62. The company has a fifty day moving average of $55.32 and a 200 day moving average of $51.50.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same period last year, the firm earned ($1.01) EPS. Research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Dana Pizzuti sold 14,375 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total transaction of $785,306.25. Following the sale, the insider now directly owns 28,507 shares of the company’s stock, valued at $1,557,337.41. This represents a 33.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marc Wilson sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the sale, the chief financial officer now owns 111,092 shares in the company, valued at approximately $5,677,912.12. This trade represents a 18.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,410 shares of company stock valued at $2,275,929 over the last ninety days. Company insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Citigroup raised their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. HC Wainwright boosted their price objective on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. Finally, Oppenheimer reissued an “outperform” rating and issued a $73.00 target price (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Crinetics Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $70.18.

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.