Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Purchased by Swiss National Bank

Swiss National Bank raised its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,900 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Swiss National Bank’s holdings in Crinetics Pharmaceuticals were worth $6,689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Crinetics Pharmaceuticals by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company’s stock valued at $167,349,000 after buying an additional 72,624 shares during the period. SG Americas Securities LLC lifted its position in shares of Crinetics Pharmaceuticals by 1,224.8% during the second quarter. SG Americas Securities LLC now owns 79,051 shares of the company’s stock worth $3,541,000 after purchasing an additional 73,084 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in shares of Crinetics Pharmaceuticals by 17.0% in the second quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company’s stock valued at $273,764,000 after purchasing an additional 885,876 shares during the period. First Turn Management LLC acquired a new stake in Crinetics Pharmaceuticals during the 2nd quarter valued at $16,541,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in Crinetics Pharmaceuticals during the 1st quarter valued at $499,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity

In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 1,035 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $51.50, for a total value of $53,302.50. Following the sale, the insider now directly owns 68,576 shares in the company, valued at approximately $3,531,664. This trade represents a 1.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Jeff E. Knight sold 501 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total transaction of $28,316.52. Following the transaction, the chief operating officer now directly owns 51,653 shares of the company’s stock, valued at approximately $2,919,427.56. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 40,911 shares of company stock valued at $2,144,675. Company insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Trading Up 1.2 %

Shares of CRNX opened at $56.77 on Wednesday. Crinetics Pharmaceuticals, Inc. has a 52 week low of $30.87 and a 52 week high of $62.53. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of -15.22 and a beta of 0.62. The stock has a 50 day moving average of $55.40 and a 200-day moving average of $51.64.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data 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 in the previous year, the business earned ($1.01) EPS. On average, sell-side analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.75 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.