Assetmark Inc. Grows Stock Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Assetmark Inc. grew its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 13.4% during the 3rd quarter, Holdings Channel reports. The fund owned 17,147 shares of the company’s stock after purchasing an additional 2,030 shares during the period. Assetmark Inc.’s holdings in Crinetics Pharmaceuticals were worth $876,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Comerica Bank purchased a new stake in shares of Crinetics Pharmaceuticals in the 1st quarter valued at $33,000. Quest Partners LLC purchased a new stake in Crinetics Pharmaceuticals during the second quarter worth $42,000. Values First Advisors Inc. purchased a new stake in Crinetics Pharmaceuticals during the third quarter worth $84,000. Allspring Global Investments Holdings LLC purchased a new stake in Crinetics Pharmaceuticals during the third quarter worth $91,000. Finally, Amalgamated Bank boosted its holdings in Crinetics Pharmaceuticals by 20.8% during the second quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock worth $121,000 after buying an additional 464 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Crinetics Pharmaceuticals

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 completion of the transaction, the insider now owns 69,611 shares in the company, valued at $3,702,609.09. The trade was a 4.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock in a transaction on 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 18.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,410 shares of company stock worth $2,275,929. 6.00% of the stock is currently owned by corporate insiders.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX opened at $54.72 on Friday. The company has a market cap of $5.07 billion, a P/E ratio of -14.67 and a beta of 0.62. Crinetics Pharmaceuticals, Inc. has a one year low of $27.55 and a one year high of $62.53. The business’s 50-day simple moving average is $54.97 and its 200 day simple moving average is $51.23.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period in the prior year, the firm posted ($1.01) earnings per share. Analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CRNX shares. Citigroup increased their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Oppenheimer reaffirmed an “outperform” rating and set a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. HC Wainwright increased their price objective on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.