Swiss National Bank Purchases 28,500 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Swiss National Bank lifted its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 21.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,400 shares of the company’s stock after acquiring an additional 28,500 shares during the quarter. Swiss National Bank owned 0.17% of Crinetics Pharmaceuticals worth $8,150,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Barclays PLC lifted its stake in Crinetics Pharmaceuticals by 75.5% in the third quarter. Barclays PLC now owns 207,712 shares of the company’s stock worth $10,614,000 after purchasing an additional 89,358 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Crinetics Pharmaceuticals by 61.4% in the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock worth $73,815,000 after buying an additional 528,688 shares during the period. Geode Capital Management LLC lifted its stake in shares of Crinetics Pharmaceuticals by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock worth $94,458,000 after acquiring an additional 169,746 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Crinetics Pharmaceuticals by 4,084.6% during the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock valued at $27,735,000 after acquiring an additional 529,483 shares during the period. Finally, Fisher Asset Management LLC grew its position in Crinetics Pharmaceuticals by 8.4% in the 3rd quarter. Fisher Asset Management LLC now owns 482,099 shares of the company’s stock valued at $24,635,000 after acquiring an additional 37,429 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Trading Up 0.3 %

Shares of CRNX stock opened at $34.42 on Friday. Crinetics Pharmaceuticals, Inc. has a 12-month low of $31.84 and a 12-month high of $62.53. The business’s fifty day simple moving average is $36.22 and its 200-day simple moving average is $48.13. The company has a market cap of $3.20 billion, a PE ratio of -9.23 and a beta of 0.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.04. On average, equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Analysts Set New Price Targets

CRNX has been the subject of several research analyst reports. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, January 22nd. Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a “peer perform” rating for the company. JMP Securities reaffirmed a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. TD Cowen began coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating for the company. Finally, HC Wainwright restated a “buy” rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Crinetics Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.30.

Insider Activity

In other news, COO Jeff E. Knight sold 7,162 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $244,940.40. Following the sale, the chief operating officer now directly owns 87,491 shares of the company’s stock, valued at $2,992,192.20. The trade was a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dana Pizzuti sold 2,515 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $86,013.00. Following the completion of the transaction, the insider now directly owns 72,233 shares in the company, valued at approximately $2,470,368.60. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,015 shares of company stock worth $1,119,263 over the last 90 days. 6.00% of the stock is currently owned by corporate 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.