Fisher Asset Management LLC Grows Stock Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Fisher Asset Management LLC increased its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 718.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 440,893 shares of the company’s stock after buying an additional 387,033 shares during the period. Fisher Asset Management LLC owned 0.66% of Crinetics Pharmaceuticals worth $15,687,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in Crinetics Pharmaceuticals by 1.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,640,235 shares of the company’s stock valued at $108,261,000 after purchasing an additional 38,523 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Crinetics Pharmaceuticals by 24.7% during the third quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock valued at $101,325,000 after acquiring an additional 674,301 shares in the last quarter. Jennison Associates LLC raised its holdings in Crinetics Pharmaceuticals by 77.7% in the 4th quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock worth $90,647,000 after acquiring an additional 1,113,992 shares during the last quarter. FMR LLC raised its holdings in Crinetics Pharmaceuticals by 97.7% in the 3rd quarter. FMR LLC now owns 2,140,861 shares of the company’s stock worth $63,669,000 after acquiring an additional 1,057,947 shares during the last quarter. Finally, Eventide Asset Management LLC lifted its position in Crinetics Pharmaceuticals by 134.3% in the 3rd quarter. Eventide Asset Management LLC now owns 1,018,782 shares of the company’s stock valued at $30,299,000 after acquiring an additional 584,014 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

CRNX has been the subject of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Thursday, March 28th. Citigroup initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Wednesday, March 6th. They set a “buy” rating and a $68.00 target price on the stock. Cantor Fitzgerald lifted their price target on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Jonestrading boosted their price objective on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Robert W. Baird raised their target price on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX stock opened at $47.20 on Monday. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -12.76 and a beta of 0.63. Crinetics Pharmaceuticals, Inc. has a 1 year low of $15.76 and a 1 year high of $49.58. The firm has a fifty day moving average price of $43.83 and a 200-day moving average price of $37.41.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 52.93%. During the same period in the prior year, the business posted ($0.84) EPS. The firm’s revenue was down 100.0% on a year-over-year basis. Equities research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.34 EPS for the current year.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $44.47, for a total transaction of $639,256.25. Following the transaction, the insider now owns 27,786 shares of the company’s stock, valued at $1,235,643.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Marc Wilson sold 6,942 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $42.91, for a total transaction of $297,881.22. Following the completion of the sale, the chief financial officer now owns 110,630 shares in the company, valued at $4,747,133.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dana Pizzuti sold 14,375 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $44.47, for a total value of $639,256.25. Following the completion of the transaction, the insider now directly owns 27,786 shares in the company, valued at $1,235,643.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,216 shares of company stock valued at $8,509,397. 7.00% of the stock is owned by corporate insiders.

Crinetics Pharmaceuticals 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.