BNP Paribas Financial Markets Boosts Stock Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

BNP Paribas Financial Markets raised its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 134.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 20,942 shares of the company's stock after purchasing an additional 12,000 shares during the quarter. BNP Paribas Financial Markets' holdings in Crinetics Pharmaceuticals were worth $1,070,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Comerica Bank bought a new stake in Crinetics Pharmaceuticals in the first quarter valued at approximately $33,000. Quest Partners LLC bought a new position in shares of Crinetics Pharmaceuticals during the second quarter valued at approximately $42,000. Values First Advisors Inc. bought a new position in shares of Crinetics Pharmaceuticals during the third quarter valued at approximately $84,000. Allspring Global Investments Holdings LLC bought a new position in shares of Crinetics Pharmaceuticals during the third quarter valued at approximately $91,000. Finally, KBC Group NV raised its holdings in shares of Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company's stock valued at $112,000 after acquiring an additional 407 shares in the last quarter. Institutional investors own 98.51% of the company's stock.

Crinetics Pharmaceuticals Stock Up 5.2 %

Shares of NASDAQ CRNX traded up $2.98 during trading on Wednesday, reaching $60.15. The company had a trading volume of 840,193 shares, compared to its average volume of 770,908. Crinetics Pharmaceuticals, Inc. has a 12-month low of $32.64 and a 12-month high of $62.53. The stock has a market cap of $5.58 billion, a PE ratio of -15.33 and a beta of 0.60. The business's 50-day moving average is $56.66 and its 200 day moving average is $52.24.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released 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 in the prior year, the company posted ($1.01) earnings per share. On average, analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on CRNX. Cantor Fitzgerald restated an "overweight" rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Citigroup upped their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, November 14th. HC Wainwright increased their price objective on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $70.18.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of the business's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the completion of the sale, the chief financial officer now directly owns 111,092 shares in the company, valued at $5,677,912.12. The trade was a 18.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 28,507 shares in the company, valued at $1,557,337.41. This trade represents a 33.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,876 shares of company stock worth $2,091,373. 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.