Geode Capital Management LLC Has $94.46 Million Stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Geode Capital Management LLC grew its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 10.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,848,133 shares of the company’s stock after acquiring an additional 169,746 shares during the quarter. Geode Capital Management LLC’s holdings in Crinetics Pharmaceuticals were worth $94,458,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CRNX. Barclays PLC grew its position in Crinetics Pharmaceuticals by 75.5% in the 3rd 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. Driehaus Capital Management LLC lifted 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 buying an additional 885,876 shares during the period. Jennison Associates LLC increased its stake in Crinetics Pharmaceuticals by 0.5% during the third quarter. Jennison Associates LLC now owns 2,793,614 shares of the company’s stock valued at $142,754,000 after acquiring an additional 13,470 shares during the period. First Turn Management LLC bought a new position in shares of Crinetics Pharmaceuticals during the 2nd quarter worth approximately $16,541,000. Finally, Fisher Asset Management LLC boosted its stake 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 buying an additional 37,429 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.

Insider Activity at Crinetics Pharmaceuticals

In other news, CFO Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock in a transaction on 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 transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at $5,677,912.12. This trade represents a 18.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Jeff E. Knight sold 501 shares of the company’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 completion of the sale, the chief operating officer now owns 51,653 shares of the company’s stock, valued at approximately $2,919,427.56. This represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,876 shares of company stock worth $2,091,373. 6.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Citigroup increased their target price on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. JMP Securities reiterated a “market outperform” rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. Finally, HC Wainwright boosted their price objective on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.82.

Crinetics Pharmaceuticals Stock Up 1.2 %

Shares of Crinetics Pharmaceuticals stock opened at $52.74 on Friday. The business has a fifty day simple moving average of $57.01 and a 200 day simple moving average of $52.59. The stock has a market cap of $4.89 billion, a PE ratio of -14.14 and a beta of 0.60. Crinetics Pharmaceuticals, Inc. has a 12 month low of $33.67 and a 12 month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period in the prior year, the business posted ($1.01) earnings per share. Analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS 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.