BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Stock Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 10.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 491,381 shares of the company's stock after selling 54,853 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.61% of Crinetics Pharmaceuticals worth $25,110,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRNX. Comerica Bank purchased a new position in shares of Crinetics Pharmaceuticals in the 1st quarter valued at $33,000. Quest Partners LLC purchased a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at $42,000. Values First Advisors Inc. purchased a new position in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at $84,000. Allspring Global Investments Holdings LLC purchased a new position in Crinetics Pharmaceuticals during the 3rd quarter worth $91,000. Finally, KBC Group NV grew 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 worth $112,000 after buying an additional 407 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Crinetics Pharmaceuticals Stock Down 1.7 %

Crinetics Pharmaceuticals stock traded down $0.97 during midday trading on Friday, reaching $56.06. The company's stock had a trading volume of 1,037,127 shares, compared to its average volume of 637,404. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $30.50 and a fifty-two week high of $62.53. The business has a 50-day simple moving average of $55.32 and a 200-day simple moving average of $51.50.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.05). During the same quarter in the prior year, the business posted ($1.01) earnings per share. On average, sell-side analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current fiscal year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 14,375 shares of the firm's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total transaction of $785,306.25. Following the transaction, the insider now owns 28,507 shares of the company's stock, valued at $1,557,337.41. This trade represents a 33.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephen F. Betz sold 1,035 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $51.50, for a total value of $53,302.50. Following the transaction, the insider now directly owns 68,576 shares in the company, valued at approximately $3,531,664. This represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,410 shares of company stock worth $2,275,929 over the last ninety days. Corporate insiders own 6.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. HC Wainwright boosted their target price on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. Citigroup boosted their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Oppenheimer reiterated an "outperform" rating and set a $73.00 price target (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. Finally, JMP Securities reiterated a "market outperform" rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average 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.