Swiss National Bank Raises Stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Swiss National Bank increased its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,900 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Swiss National Bank owned 0.16% of Crinetics Pharmaceuticals worth $6,689,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRNX. Driehaus Capital Management LLC grew its position in Crinetics Pharmaceuticals by 17.0% during the second quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company’s stock worth $273,764,000 after buying an additional 885,876 shares during the period. Vanguard Group Inc. increased its stake in Crinetics Pharmaceuticals by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company’s stock valued at $167,349,000 after purchasing an additional 72,624 shares in the last quarter. Artal Group S.A. acquired a new position in Crinetics Pharmaceuticals during the first quarter worth $65,088,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Crinetics Pharmaceuticals by 0.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 546,234 shares of the company’s stock worth $24,466,000 after purchasing an additional 3,526 shares in the last quarter. Finally, Affinity Asset Advisors LLC grew its holdings in Crinetics Pharmaceuticals by 9.6% in the second quarter. Affinity Asset Advisors LLC now owns 515,000 shares of the company’s stock valued at $23,067,000 after purchasing an additional 45,000 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. HC Wainwright lifted their price target on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup increased their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. JMP Securities reissued a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.18.

Crinetics Pharmaceuticals Stock Up 1.2 %

CRNX stock opened at $56.77 on Wednesday. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of -15.22 and a beta of 0.62. The stock’s fifty day simple moving average is $55.40 and its 200-day simple moving average is $51.64. Crinetics Pharmaceuticals, Inc. has a 52-week low of $30.87 and a 52-week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results 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 posted ($1.01) earnings per share. As a group, analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current fiscal year.

Insider Activity at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 14,375 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total value of $785,306.25. Following the transaction, the insider now directly owns 28,507 shares in the company, valued at $1,557,337.41. This trade represents a 33.52 % decrease in their position. The transaction 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 stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total transaction of $28,316.52. Following the sale, the chief operating officer now directly owns 51,653 shares of the company’s stock, valued at approximately $2,919,427.56. This trade represents a 0.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,911 shares of company stock worth $2,144,675. 6.00% of the stock is owned by company 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.