Envestnet Asset Management Inc. Grows Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Envestnet Asset Management Inc. raised its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 23.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,791 shares of the company's stock after purchasing an additional 9,859 shares during the period. Envestnet Asset Management Inc. owned 0.07% of Crinetics Pharmaceuticals worth $2,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CRNX. Janus Henderson Group PLC grew its holdings in shares of Crinetics Pharmaceuticals by 264.1% during the first quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company's stock valued at $92,526,000 after buying an additional 1,434,909 shares during the last quarter. Artal Group S.A. purchased a new stake in shares of Crinetics Pharmaceuticals during the first quarter valued at approximately $65,088,000. Price T Rowe Associates Inc. MD boosted its holdings in Crinetics Pharmaceuticals by 27.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company's stock worth $178,966,000 after purchasing an additional 814,360 shares during the last quarter. Vestal Point Capital LP purchased a new stake in Crinetics Pharmaceuticals in the fourth quarter worth approximately $16,011,000. Finally, First Light Asset Management LLC boosted its holdings in Crinetics Pharmaceuticals by 25.5% in the fourth quarter. First Light Asset Management LLC now owns 1,987,772 shares of the company's stock worth $70,725,000 after purchasing an additional 404,443 shares during the last quarter. Institutional investors own 98.51% of the company's stock.

Insider Transactions at Crinetics Pharmaceuticals

In other news, CFO Marc Wilson sold 25,000 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $51.11, for a total value of $1,277,750.00. Following the sale, the chief financial officer now directly owns 111,092 shares in the company, valued at $5,677,912.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Marc Wilson sold 25,000 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $51.11, for a total value of $1,277,750.00. Following the sale, the chief financial officer now directly owns 111,092 shares in the company, valued at $5,677,912.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jeff E. Knight sold 27,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $55.00, for a total transaction of $1,485,000.00. Following the transaction, the chief operating officer now directly owns 51,653 shares of the company's stock, valued at approximately $2,840,915. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,091 shares of company stock worth $5,683,300 in the last three months. Insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Stock Up 0.7 %

NASDAQ CRNX traded up $0.37 on Friday, reaching $53.14. The company had a trading volume of 394,997 shares, compared to its average volume of 779,882. The stock has a market capitalization of $4.19 billion, a PE ratio of -14.06 and a beta of 0.63. The firm's 50 day moving average price is $51.95 and its 200 day moving average price is $48.72. Crinetics Pharmaceuticals, Inc. has a 12 month low of $25.35 and a 12 month high of $55.78.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Piper Sandler restated an "overweight" rating and issued a $97.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 2nd. 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. 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. 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.55.

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.