UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $13.89 Million Stock Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 4.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 271,747 shares of the company's stock after acquiring an additional 10,767 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.34% of Crinetics Pharmaceuticals worth $13,886,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Comerica Bank acquired a new position in Crinetics Pharmaceuticals during the 1st quarter worth $33,000. Quest Partners LLC bought a new position in shares of Crinetics Pharmaceuticals in the second quarter worth about $42,000. Values First Advisors Inc. acquired a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter worth about $84,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter worth about $91,000. Finally, KBC Group NV boosted its stake in Crinetics Pharmaceuticals by 22.8% during the 3rd quarter. KBC Group NV now owns 2,193 shares of the company's stock valued at $112,000 after purchasing an additional 407 shares during the period. 98.51% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 501 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total transaction of $28,316.52. Following the completion of the transaction, the chief operating officer now owns 51,653 shares of the company's stock, valued at $2,919,427.56. This represents a 0.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 $1,557,337.41. This trade represents a 33.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,911 shares of company stock worth $2,144,675. Corporate insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX traded up $1.18 during mid-day trading on Friday, reaching $58.87. The company had a trading volume of 419,439 shares, compared to its average volume of 616,440. The company has a market capitalization of $5.46 billion, a P/E ratio of -15.78 and a beta of 0.60. The company's 50-day moving average is $56.45 and its 200-day moving average is $52.11. Crinetics Pharmaceuticals, Inc. has a twelve month low of $32.56 and a twelve month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period in the prior year, the company earned ($1.01) EPS. As a group, equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current fiscal year.

Analyst Ratings Changes

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