Bank of New York Mellon Corp Has $17.63 Million Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Bank of New York Mellon Corp lifted its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 344,765 shares of the company's stock after purchasing an additional 32,825 shares during the period. Bank of New York Mellon Corp owned 0.37% of Crinetics Pharmaceuticals worth $17,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at approximately $41,000. KBC Group NV increased its holdings in shares of Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company's stock valued at $112,000 after purchasing an additional 407 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company's stock valued at $143,000 after purchasing an additional 1,008 shares in the last quarter. Commerce Bank acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at approximately $212,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at approximately $215,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Crinetics Pharmaceuticals Stock Up 1.5 %

Shares of NASDAQ CRNX opened at $34.26 on Wednesday. The company's fifty day moving average is $38.87 and its 200-day moving average is $49.25. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -9.18 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.

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Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.04. On average, research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total value of $195,350.00. Following the sale, the insider now directly owns 31,748 shares in the company, valued at approximately $1,240,394.36. The trade was a 13.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CRNX has been the subject of a number of research reports. Citigroup raised their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, November 14th. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating for the company. HC Wainwright reaffirmed a "buy" rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Wolfe Research initiated coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They set a "peer perform" rating for the company. Finally, Jefferies Financial Group raised shares of 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. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $72.64.

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.

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