Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 6.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 848,050 shares of the company’s stock after selling 60,099 shares during the quarter. Pictet Asset Management Holding SA owned about 0.91% of Crinetics Pharmaceuticals worth $43,361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of Crinetics Pharmaceuticals by 75.5% in the third quarter. Barclays PLC now owns 207,712 shares of the company’s stock valued at $10,614,000 after purchasing an additional 89,358 shares during the period. Franklin Resources Inc. grew its holdings in Crinetics Pharmaceuticals by 61.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock valued at $73,815,000 after buying an additional 528,688 shares during the period. Geode Capital Management LLC increased 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 valued at $94,458,000 after acquiring an additional 169,746 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Crinetics Pharmaceuticals by 4,084.6% during the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock worth $27,735,000 after acquiring an additional 529,483 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Crinetics Pharmaceuticals by 4.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,747 shares of the company’s stock valued at $13,886,000 after purchasing an additional 10,767 shares during the period. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Trading Down 0.5 %

Shares of CRNX stock opened at $34.73 on Monday. The firm has a fifty day simple moving average of $36.02 and a 200-day simple moving average of $47.51. The company has a market capitalization of $3.23 billion, a PE ratio of -9.31 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a twelve month low of $31.84 and a twelve month high of $62.53.

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

Insider Buying and Selling at Crinetics Pharmaceuticals

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

Analyst Upgrades and Downgrades

CRNX has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Stifel Nicolaus assumed coverage on Crinetics Pharmaceuticals in a report on Tuesday, March 25th. They issued a “buy” rating and a $60.00 target price on the stock. Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a “peer perform” rating on the stock. 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 report on Wednesday, January 22nd. Finally, TD Cowen started coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Crinetics Pharmaceuticals Company 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.