Fisher Asset Management LLC Acquires 37,429 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Fisher Asset Management LLC lifted its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 8.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 482,099 shares of the company's stock after purchasing an additional 37,429 shares during the period. Fisher Asset Management LLC owned 0.60% of Crinetics Pharmaceuticals worth $24,635,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 17.0% during the second quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company's stock worth $273,764,000 after purchasing an additional 885,876 shares in the last quarter. Vanguard Group Inc. boosted its position in Crinetics Pharmaceuticals by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company's stock valued at $167,349,000 after buying an additional 72,624 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Crinetics Pharmaceuticals by 0.5% in the 3rd quarter. Jennison Associates LLC now owns 2,793,614 shares of the company's stock valued at $142,754,000 after buying an additional 13,470 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Crinetics Pharmaceuticals by 9.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 655,418 shares of the company's stock worth $33,492,000 after acquiring an additional 58,369 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Crinetics Pharmaceuticals by 0.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 546,234 shares of the company's stock valued at $24,466,000 after acquiring an additional 3,526 shares during the period. Institutional investors own 98.51% of the company's stock.

Insider Transactions at Crinetics Pharmaceuticals

In other news, COO Jeff E. Knight sold 501 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total transaction of $28,316.52. Following the completion of the sale, the chief operating officer now owns 51,653 shares of the company's stock, valued at approximately $2,919,427.56. This represents a 0.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen F. Betz sold 1,035 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total value of $53,302.50. Following the completion of the transaction, the insider now owns 68,576 shares of the company's stock, valued at $3,531,664. The trade was a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 40,911 shares of company stock worth $2,144,675 over the last quarter. Company insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JMP Securities reissued a "market outperform" rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Citigroup upped their target price on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. HC Wainwright raised their price target on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Oppenheimer reissued an "outperform" rating and issued a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.18.

Crinetics Pharmaceuticals Price Performance

CRNX traded up $0.90 during trading on Thursday, reaching $57.67. The company had a trading volume of 412,937 shares, compared to its average volume of 779,577. Crinetics Pharmaceuticals, Inc. has a 12 month low of $30.87 and a 12 month high of $62.53. The business's fifty day moving average price is $55.58 and its 200 day moving average price is $51.75. The company has a market cap of $5.35 billion, a P/E ratio of -15.46 and a beta of 0.62.

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

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.