BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 3,526 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 546,234 shares of the company’s stock after acquiring an additional 3,526 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Crinetics Pharmaceuticals were worth $24,466,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRNX. HighMark Wealth Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 16.1% during the second quarter. HighMark Wealth Management LLC now owns 19,995 shares of the company’s stock worth $896,000 after purchasing an additional 2,780 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Crinetics Pharmaceuticals by 32.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,135 shares of the company’s stock worth $544,000 after buying an additional 2,952 shares in the last quarter. Legato Capital Management LLC boosted its position in Crinetics Pharmaceuticals by 92.5% in the 2nd quarter. Legato Capital Management LLC now owns 19,015 shares of the company’s stock valued at $852,000 after buying an additional 9,135 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Crinetics Pharmaceuticals by 30.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 386,450 shares of the company’s stock valued at $17,309,000 after buying an additional 89,972 shares during the period. Finally, Calamos Advisors LLC raised its position in shares of Crinetics Pharmaceuticals by 46.0% during the second quarter. Calamos Advisors LLC now owns 42,336 shares of the company’s stock worth $1,896,000 after acquiring an additional 13,336 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Trading Up 0.7 %

Shares of CRNX stock traded up $0.36 on Friday, hitting $53.06. The stock had a trading volume of 706,615 shares, compared to its average volume of 801,504. Crinetics Pharmaceuticals, Inc. has a twelve month low of $15.76 and a twelve month high of $55.78. The company has a fifty day moving average price of $50.63 and a two-hundred day moving average price of $46.60. The firm has a market cap of $4.18 billion, a P/E ratio of -14.04 and a beta of 0.68.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Thursday, August 8th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The business had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.47 million. During the same period last year, the firm posted ($0.94) earnings per share. The company’s revenue for the quarter was down 59.6% on a year-over-year basis. On average, analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CRNX shares. Morgan Stanley raised their price target on Crinetics Pharmaceuticals from $50.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Piper Sandler reiterated an “overweight” rating and set a $97.00 price target on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 2nd. JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a research note on Tuesday, June 4th. JPMorgan Chase & Co. raised their price objective on shares of Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Oppenheimer reiterated an “outperform” rating and set a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Crinetics Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $64.75.

Insider Activity

In related news, insider James Hassard sold 15,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $44.66, for a total transaction of $669,900.00. Following the completion of the sale, the insider now directly owns 29,259 shares of the company’s stock, valued at approximately $1,306,706.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider James Hassard sold 15,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $44.66, for a total value of $669,900.00. Following the sale, the insider now directly owns 29,259 shares of the company’s stock, valued at approximately $1,306,706.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jeff E. Knight sold 956 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $44.38, for a total transaction of $42,427.28. Following the completion of the transaction, the chief operating officer now directly owns 52,580 shares of the company’s stock, valued at $2,333,500.40. The disclosure for this sale can be found here. Insiders have sold 170,016 shares of company stock worth $8,337,942 in the last 90 days. Corporate insiders own 6.00% of the company’s stock.

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.