E Fund Management Co. Ltd. Lowers Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

E Fund Management Co. Ltd. reduced its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 7.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,775 shares of the company’s stock after selling 487 shares during the period. E Fund Management Co. Ltd.’s holdings in Crinetics Pharmaceuticals were worth $295,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRNX. US Bancorp DE boosted its stake in Crinetics Pharmaceuticals by 3.4% during the third quarter. US Bancorp DE now owns 11,488 shares of the company’s stock valued at $587,000 after buying an additional 373 shares during the period. Principal Financial Group Inc. boosted its position in shares of Crinetics Pharmaceuticals by 488.5% during the 3rd quarter. Principal Financial Group Inc. now owns 77,709 shares of the company’s stock valued at $3,971,000 after acquiring an additional 64,504 shares during the last quarter. Assetmark Inc. boosted its position in shares of Crinetics Pharmaceuticals by 13.4% during the 3rd quarter. Assetmark Inc. now owns 17,147 shares of the company’s stock valued at $876,000 after acquiring an additional 2,030 shares during the last quarter. Lisanti Capital Growth LLC grew its holdings in shares of Crinetics Pharmaceuticals by 30.2% during the third quarter. Lisanti Capital Growth LLC now owns 108,575 shares of the company’s stock worth $5,548,000 after purchasing an additional 25,195 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Crinetics Pharmaceuticals by 51.5% in the third quarter. Victory Capital Management Inc. now owns 343,344 shares of the company’s stock worth $17,545,000 after purchasing an additional 116,657 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CRNX. HC Wainwright reiterated a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They set a “peer perform” rating for the company. JMP Securities reissued a “market outperform” rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Citigroup raised their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, TD Cowen started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Crinetics Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $72.64.

Crinetics Pharmaceuticals Trading Down 2.4 %

CRNX opened at $33.28 on Friday. Crinetics Pharmaceuticals, Inc. has a 12 month low of $31.84 and a 12 month high of $62.53. The business’s 50-day moving average price is $39.21 and its 200-day moving average price is $49.42. The company has a market cap of $3.10 billion, a P/E ratio of -8.92 and a beta of 0.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. Equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Dana Pizzuti sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the completion of the sale, the insider now directly owns 31,748 shares in the company, valued at approximately $1,240,394.36. This represents a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.00% of the stock is owned by insiders.

About Crinetics Pharmaceuticals

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.