22,348 Shares in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Purchased by Intech Investment Management LLC

Intech Investment Management LLC bought a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 22,348 shares of the company’s stock, valued at approximately $1,142,000.

Several other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in shares of Crinetics Pharmaceuticals by 3.3% during the second quarter. AQR Capital Management LLC now owns 7,126 shares of the company’s stock valued at $319,000 after buying an additional 227 shares during the last quarter. US Bancorp DE raised its holdings in Crinetics Pharmaceuticals by 3.4% in 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. KBC Group NV lifted its position in shares of Crinetics Pharmaceuticals by 22.8% in the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after acquiring an additional 407 shares during the period. 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 purchasing an additional 464 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Crinetics Pharmaceuticals by 2.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company’s stock worth $1,054,000 after purchasing an additional 505 shares in the last quarter. 98.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRNX has been the subject of several research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. Oppenheimer reaffirmed an “outperform” rating and set a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. Citigroup raised their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, HC Wainwright upped 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. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.18.

Insider Activity

In related news, COO Jeff E. Knight sold 501 shares of Crinetics Pharmaceuticals stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $56.52, for a total value of $28,316.52. Following the completion of the sale, the chief operating officer now directly owns 51,653 shares in the company, valued at $2,919,427.56. This trade represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen F. Betz sold 1,035 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,531,664. This represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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 Stock Up 1.6 %

Shares of NASDAQ:CRNX opened at $57.67 on Thursday. The firm has a market cap of $5.35 billion, a P/E ratio of -15.46 and a beta of 0.62. Crinetics Pharmaceuticals, Inc. has a 12 month low of $30.87 and a 12 month high of $62.53. The company’s 50-day moving average price is $55.48 and its two-hundred day moving average price is $51.71.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same quarter last year, the business earned ($1.01) EPS. As a group, equities 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.