TD Asset Management Inc Has $9.18 Million Stock Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

TD Asset Management Inc decreased its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 12.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 204,998 shares of the company's stock after selling 30,200 shares during the period. TD Asset Management Inc owned 0.26% of Crinetics Pharmaceuticals worth $9,182,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank acquired a new position in Crinetics Pharmaceuticals in the first quarter valued at about $33,000. Quarry LP acquired a new stake in shares of Crinetics Pharmaceuticals in the 4th quarter valued at approximately $36,000. Oppenheimer Asset Management Inc. bought a new position in Crinetics Pharmaceuticals during the 1st quarter worth approximately $200,000. Oppenheimer & Co. Inc. acquired a new position in Crinetics Pharmaceuticals during the first quarter valued at approximately $219,000. Finally, SG Americas Securities LLC acquired a new position in Crinetics Pharmaceuticals during the first quarter valued at approximately $279,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Trading Up 0.7 %

Shares of NASDAQ CRNX traded up $0.34 during midday trading on Wednesday, reaching $50.74. The company's stock had a trading volume of 468,784 shares, compared to its average volume of 789,515. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $25.35 and a fifty-two week high of $55.78. The stock has a 50 day simple moving average of $51.62 and a 200-day simple moving average of $47.46. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of -13.33 and a beta of 0.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.08). The business had revenue of $0.40 million for the quarter, compared to analysts' expectations of $0.47 million. Crinetics Pharmaceuticals's quarterly revenue was down 59.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.94) earnings per share. As a group, equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CRNX. Piper Sandler reissued an "overweight" rating and set a $97.00 price target on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. increased their price target on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the stock an "overweight" rating in a report on Tuesday, July 9th. Robert W. Baird lifted their price objective on Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, May 23rd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Tuesday, May 14th. Finally, HC Wainwright raised their target price on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a "buy" rating in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $64.75.

Insider Buying and Selling

In related news, insider Stephen F. Betz sold 3,000 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $53.19, for a total transaction of $159,570.00. Following the transaction, the insider now directly owns 69,611 shares in the company, valued at $3,702,609.09. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Stephen F. Betz sold 3,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $53.19, for a total transaction of $159,570.00. Following the transaction, the insider now directly owns 69,611 shares of the company's stock, valued at approximately $3,702,609.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Hassard sold 15,000 shares of the firm's stock in a transaction on Friday, June 21st. The shares were sold at an average price of $44.66, for a total value of $669,900.00. Following the sale, the insider now directly owns 29,259 shares of the company's stock, valued at approximately $1,306,706.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,016 shares of company stock worth $8,206,362. Corporate insiders own 6.00% of the company's stock.

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.