Fisher Asset Management LLC Purchases 37,429 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Fisher Asset Management LLC grew its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 482,099 shares of the company’s stock after acquiring an additional 37,429 shares during the quarter. Fisher Asset Management LLC owned about 0.60% of Crinetics Pharmaceuticals worth $24,635,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Comerica Bank purchased a new position in shares of Crinetics Pharmaceuticals during the first quarter valued at approximately $33,000. Quest Partners LLC purchased a new position in shares of Crinetics Pharmaceuticals during the second quarter valued at approximately $42,000. Values First Advisors Inc. purchased a new position in shares of Crinetics Pharmaceuticals during the third quarter valued at approximately $84,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Crinetics Pharmaceuticals during the third quarter valued at approximately $91,000. Finally, KBC Group NV boosted its position in shares of Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after buying an additional 407 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Oppenheimer reissued an “outperform” rating and issued a $73.00 price objective (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. HC Wainwright boosted their price objective on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JMP Securities reissued a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. Citigroup boosted their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.18.

Crinetics Pharmaceuticals Stock Performance

NASDAQ:CRNX opened at $57.67 on Thursday. Crinetics Pharmaceuticals, Inc. has a 52-week low of $30.87 and a 52-week high of $62.53. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of -15.46 and a beta of 0.62. The business’s fifty day moving average is $55.48 and its 200 day moving average is $51.71.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.05). During the same quarter in the prior year, the company posted ($1.01) earnings per share. Equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current fiscal year.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $51.11, for a total value of $1,277,750.00. Following the transaction, the chief financial officer now directly owns 111,092 shares in the company, valued at $5,677,912.12. This represents a 18.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen F. Betz sold 1,035 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $51.50, for a total value of $53,302.50. Following the completion of the transaction, the insider now owns 68,576 shares in the company, valued at $3,531,664. This represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,911 shares of company stock worth $2,144,675. 6.00% of the stock is owned by company insiders.

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.