Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by Fmr LLC

FMR LLC boosted its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,455,770 shares of the company's stock after acquiring an additional 358,975 shares during the period. FMR LLC owned 5.57% of Crinetics Pharmaceuticals worth $227,690,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Comerica Bank purchased a new position in shares of Crinetics Pharmaceuticals during the first quarter valued at approximately $33,000. Quest Partners LLC bought a new stake in Crinetics Pharmaceuticals in the second quarter worth $42,000. Values First Advisors Inc. bought a new stake in Crinetics Pharmaceuticals in the third quarter worth $84,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the third quarter worth $91,000. Finally, KBC Group NV increased its holdings in shares of Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company's stock valued at $112,000 after acquiring an additional 407 shares in the last quarter. Institutional investors own 98.51% of the company's stock.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $51.11, for a total value of $1,277,750.00. Following the completion of the sale, the chief financial officer now directly owns 111,092 shares in the company, valued at approximately $5,677,912.12. This trade represents a 18.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jeff E. Knight sold 501 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $56.52, for a total value of $28,316.52. Following the sale, the chief operating officer now owns 51,653 shares in the company, valued at $2,919,427.56. The trade was a 0.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,911 shares of company stock worth $2,144,675 over the last three months. 6.00% of the stock is owned by corporate insiders.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ CRNX traded down $0.37 during mid-day trading on Tuesday, hitting $57.02. 69,884 shares of the company's stock traded hands, compared to its average volume of 773,116. The company has a market capitalization of $5.29 billion, a P/E ratio of -15.39 and a beta of 0.60. Crinetics Pharmaceuticals, Inc. has a 1 year low of $32.22 and a 1 year high of $62.53. The company's 50-day moving average is $55.87 and its two-hundred day moving average is $51.92.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings data 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 last year, the company posted ($1.01) EPS. Equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current fiscal year.

Analysts Set New Price Targets

CRNX has been the subject of a number of recent analyst reports. HC Wainwright boosted their price objective on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Citigroup boosted their target price on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Oppenheimer reaffirmed an "outperform" rating and issued a $73.00 target price (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. JMP Securities reaffirmed a "market outperform" rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $70.18.

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.