Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by Swiss National Bank

Swiss National Bank raised its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 21.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 159,400 shares of the company's stock after buying an additional 28,500 shares during the quarter. Swiss National Bank owned about 0.17% of Crinetics Pharmaceuticals worth $8,150,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in shares of Crinetics Pharmaceuticals by 488.5% during 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 during the period. Oppenheimer & Co. Inc. lifted its stake in Crinetics Pharmaceuticals by 16.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 5,469 shares of the company's stock worth $279,000 after acquiring an additional 770 shares in the last quarter. KBC Group NV boosted its holdings in Crinetics Pharmaceuticals by 22.8% during the 3rd quarter. KBC Group NV now owns 2,193 shares of the company's stock valued at $112,000 after acquiring an additional 407 shares during the period. Natixis Advisors LLC grew its position in Crinetics Pharmaceuticals by 36.6% in the 3rd quarter. Natixis Advisors LLC now owns 44,346 shares of the company's stock valued at $2,266,000 after acquiring an additional 11,870 shares in the last quarter. Finally, Commerce Bank purchased a new stake in Crinetics Pharmaceuticals during the third quarter worth about $212,000. Institutional investors and hedge funds own 98.51% of the company's stock.

Remove Ads

Crinetics Pharmaceuticals Stock Down 1.6 %

CRNX stock traded down $0.56 during trading on Wednesday, hitting $34.51. The company had a trading volume of 1,147,304 shares, compared to its average volume of 817,209. The firm has a 50-day moving average price of $36.15 and a 200-day moving average price of $47.86. The firm has a market cap of $3.21 billion, a PE ratio of -9.25 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.

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

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $592,959.60. Following the sale, the chief executive officer now owns 329,147 shares of the company's stock, valued at $11,256,827.40. This represents a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dana Pizzuti sold 5,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the transaction, the insider now directly owns 31,748 shares in the company, valued at $1,240,394.36. The trade was a 13.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,015 shares of company stock valued at $1,119,263. 6.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CRNX has been the topic of several recent research reports. HC Wainwright reaffirmed a "buy" rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. Wolfe Research started coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a "peer perform" rating on the stock. Jefferies Financial Group raised Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research note on Wednesday, January 22nd. JMP Securities reaffirmed a "market outperform" rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Finally, TD Cowen started coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating for the company. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

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.