abrdn plc Acquires 7,922 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

abrdn plc boosted its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,389 shares of the company's stock after acquiring an additional 7,922 shares during the period. abrdn plc's holdings in Crinetics Pharmaceuticals were worth $2,218,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of 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 period. Franklin Resources Inc. lifted its position in shares of Crinetics Pharmaceuticals by 61.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company's stock worth $73,815,000 after purchasing an additional 528,688 shares during the period. Geode Capital Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 10.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company's stock worth $94,458,000 after purchasing an additional 169,746 shares during the period. SG Americas Securities LLC lifted its position in shares of Crinetics Pharmaceuticals by 4,084.6% in the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company's stock worth $27,735,000 after purchasing an additional 529,483 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Crinetics Pharmaceuticals by 0.5% in the 3rd quarter. Jennison Associates LLC now owns 2,793,614 shares of the company's stock worth $142,754,000 after purchasing an additional 13,470 shares during the period. Institutional investors own 98.51% of the company's stock.

Crinetics Pharmaceuticals Stock Down 0.1 %

Crinetics Pharmaceuticals stock traded down $0.05 during trading hours on Friday, hitting $35.21. The stock had a trading volume of 643,625 shares, compared to its average volume of 1,001,884. The stock has a market capitalization of $3.27 billion, a P/E ratio of -9.44 and a beta of 0.56. Crinetics Pharmaceuticals, Inc. has a 12-month low of $34.07 and a 12-month high of $62.53. The stock's 50-day moving average price is $45.20 and its 200-day moving average price is $51.13.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.05). During the same period in the previous year, the company posted ($1.01) EPS. On average, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRNX. Citigroup raised 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. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a research report on Wednesday, January 22nd. JMP Securities reissued a "market outperform" rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday. They set a "buy" rating for the company. Finally, HC Wainwright reissued a "buy" rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $72.64.

Insider Transactions at Crinetics Pharmaceuticals

In other news, 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 value of $28,316.52. Following the completion of the sale, the chief operating officer now directly owns 51,653 shares in the company, valued at $2,919,427.56. The trade was a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dana Pizzuti sold 5,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the sale, the insider now owns 31,748 shares of the company's stock, valued at $1,240,394.36. This trade represents a 13.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.00% of the company's stock.

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.