Intech Investment Management LLC Purchases New Shares in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Intech Investment Management LLC bought a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,348 shares of the company's stock, valued at approximately $1,142,000.

Other large investors have also made changes to their positions in the company. Driehaus Capital Management LLC raised its holdings in Crinetics Pharmaceuticals by 17.0% in the 2nd 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 last quarter. Farallon Capital Management LLC lifted its holdings in shares of Crinetics Pharmaceuticals by 9,840.0% during the second quarter. Farallon Capital Management LLC now owns 497,000 shares of the company's stock worth $22,261,000 after purchasing an additional 492,000 shares during the period. Hood River Capital Management LLC bought a new stake in shares of Crinetics Pharmaceuticals in the second quarter worth $18,379,000. First Turn Management LLC acquired a new stake in Crinetics Pharmaceuticals in the second quarter valued at $16,541,000. Finally, Maplelane Capital LLC acquired a new stake in Crinetics Pharmaceuticals in the second quarter valued at $7,166,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Insider Buying and Selling

In other news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total transaction of $785,306.25. Following the completion of the sale, the insider now owns 28,507 shares in the company, valued at approximately $1,557,337.41. This trade represents a 33.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Jeff E. Knight sold 501 shares of Crinetics Pharmaceuticals stock in a transaction that occurred 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 sale, the chief operating officer now owns 51,653 shares of the company's stock, valued at approximately $2,919,427.56. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,911 shares of company stock valued at $2,144,675. Corporate insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ CRNX traded up $0.90 during midday trading on Thursday, reaching $57.67. The company's stock had a trading volume of 412,937 shares, compared to its average volume of 779,577. The stock has a market capitalization of $5.35 billion, a P/E ratio of -15.46 and a beta of 0.62. The firm has a 50 day moving average price of $55.58 and a 200-day moving average price of $51.75. Crinetics Pharmaceuticals, Inc. has a 12-month low of $30.87 and a 12-month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its quarterly earnings data 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 period last year, the company earned ($1.01) EPS. On average, equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current year.

Analyst Ratings Changes

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

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.