State of New Jersey Common Pension Fund D Has $1.91 Million Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

State of New Jersey Common Pension Fund D decreased its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 8.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,341 shares of the company’s stock after selling 3,258 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Crinetics Pharmaceuticals were worth $1,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Assetmark Inc. raised its stake in shares of Crinetics Pharmaceuticals by 13.4% during the third quarter. Assetmark Inc. now owns 17,147 shares of the company’s stock valued at $876,000 after acquiring an additional 2,030 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Crinetics Pharmaceuticals by 488.5% during the third quarter. Principal Financial Group Inc. now owns 77,709 shares of the company’s stock valued at $3,971,000 after buying an additional 64,504 shares during the last quarter. US Bancorp DE boosted its holdings in Crinetics Pharmaceuticals by 3.4% during the third quarter. US Bancorp DE now owns 11,488 shares of the company’s stock worth $587,000 after purchasing an additional 373 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Crinetics Pharmaceuticals by 66.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 15,393 shares of the company’s stock worth $787,000 after purchasing an additional 6,128 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Crinetics Pharmaceuticals by 23.0% in the third 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 during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock opened at $54.72 on Monday. Crinetics Pharmaceuticals, Inc. has a one year low of $27.55 and a one year high of $62.53. The company’s 50-day moving average is $54.97 and its 200 day moving average is $51.32. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of -14.67 and a beta of 0.62.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter in the prior year, the firm earned ($1.01) EPS. As a group, research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Crinetics Pharmaceuticals

In other news, CFO Marc Wilson sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were 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 of the company’s stock, valued at $5,677,912.12. This trade represents a 18.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Stephen F. Betz sold 1,035 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total transaction of $53,302.50. Following the sale, the insider now directly owns 68,576 shares in the company, valued at approximately $3,531,664. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,410 shares of company stock valued at $2,275,929. 6.00% of the stock is 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.