Charles Schwab Investment Management Inc. Buys 103,708 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 15.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 759,126 shares of the company's stock after acquiring an additional 103,708 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.82% of Crinetics Pharmaceuticals worth $38,814,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC increased its position in shares of Crinetics Pharmaceuticals by 8.8% during the third quarter. FMR LLC now owns 4,455,770 shares of the company's stock worth $227,690,000 after acquiring an additional 358,975 shares in the last quarter. State Street Corp increased its position in shares of Crinetics Pharmaceuticals by 0.9% during the third quarter. State Street Corp now owns 2,838,484 shares of the company's stock worth $145,047,000 after acquiring an additional 25,561 shares in the last quarter. Jennison Associates LLC increased its position in shares of Crinetics Pharmaceuticals by 0.5% during the third quarter. Jennison Associates LLC now owns 2,793,614 shares of the company's stock worth $142,754,000 after acquiring an additional 13,470 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Crinetics Pharmaceuticals by 10.1% during the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company's stock worth $94,458,000 after acquiring an additional 169,746 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in 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 in the last quarter. 98.51% of the stock is owned by institutional investors.

Remove Ads

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of the stock in a transaction that occurred 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 $1,240,394.36. This represents a 13.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Trading Down 1.6 %

Shares of CRNX stock traded down $0.57 during trading on Friday, reaching $34.47. 1,379,615 shares of the company's stock traded hands, compared to its average volume of 1,018,855. The company has a market capitalization of $3.21 billion, a P/E ratio of -9.24 and a beta of 0.58. The firm's 50-day moving average is $37.51 and its 200 day moving average is $48.75. Crinetics Pharmaceuticals, Inc. has a 1 year low of $31.84 and a 1 year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, beating analysts' consensus estimates of ($0.92) by $0.04. As a group, sell-side analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Wolfe Research assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a "peer perform" rating for the company. TD Cowen assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a "buy" rating for the company. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research report on Wednesday, January 22nd. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Crinetics Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $72.64.

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.