Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC raised its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 16.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 559,287 shares of the company's stock after acquiring an additional 77,188 shares during the period. Fisher Asset Management LLC owned approximately 0.60% of Crinetics Pharmaceuticals worth $28,596,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in Crinetics Pharmaceuticals in the 3rd quarter worth approximately $91,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Crinetics Pharmaceuticals by 23.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company's stock worth $147,000 after acquiring an additional 541 shares during the period. US Bancorp DE lifted its position in shares of Crinetics Pharmaceuticals by 3.4% in the third quarter. US Bancorp DE now owns 11,488 shares of the company's stock worth $587,000 after buying an additional 373 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Crinetics Pharmaceuticals by 488.5% in the third quarter. Principal Financial Group Inc. now owns 77,709 shares of the company's stock worth $3,971,000 after buying an additional 64,504 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Crinetics Pharmaceuticals by 13.4% in the third quarter. Assetmark Inc. now owns 17,147 shares of the company's stock worth $876,000 after buying an additional 2,030 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRNX. Citigroup increased their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. HC Wainwright reissued a "buy" rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. JMP Securities reiterated a "market outperform" rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Wolfe Research started coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a "peer perform" rating on the stock. Finally, Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $72.64.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ CRNX traded down $0.14 during mid-day trading on Thursday, hitting $33.81. The company had a trading volume of 263,902 shares, compared to its average volume of 1,024,866. The company has a market capitalization of $3.15 billion, a PE ratio of -9.06 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 1-year low of $31.84 and a 1-year high of $62.53. The business's 50-day simple moving average is $39.98 and its 200 day simple moving average is $49.69.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping analysts' consensus estimates of ($0.92) by $0.04. On average, analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total transaction of $195,350.00. Following the completion of the transaction, the insider now directly owns 31,748 shares of the company's stock, valued at approximately $1,240,394.36. This represents a 13.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.00% of the stock is currently owned by company insiders.

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.