Crinetics Pharmaceuticals, Inc. $CRNX Shares Acquired by Fisher Asset Management LLC

Fisher Asset Management LLC grew its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 2.9% during the third quarter, HoldingsChannel reports. The fund owned 758,357 shares of the company’s stock after purchasing an additional 21,273 shares during the period. Fisher Asset Management LLC’s holdings in Crinetics Pharmaceuticals were worth $31,586,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of Crinetics Pharmaceuticals by 523.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $35,000 after buying an additional 707 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Crinetics Pharmaceuticals during the 2nd quarter worth $30,000. Covestor Ltd raised its stake in Crinetics Pharmaceuticals by 23,983.3% during the 3rd quarter. Covestor Ltd now owns 1,445 shares of the company’s stock worth $60,000 after acquiring an additional 1,439 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Crinetics Pharmaceuticals in the second quarter valued at $45,000. Finally, Abich Financial Wealth Management LLC acquired a new position in Crinetics Pharmaceuticals in the third quarter valued at $68,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Trading Down 1.4%

NASDAQ:CRNX opened at $40.12 on Wednesday. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $57.99. The stock’s 50 day simple moving average is $48.48 and its 200-day simple moving average is $43.44. The firm has a market cap of $4.20 billion, a P/E ratio of -8.12 and a beta of 0.23.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($1.29) earnings per share for the quarter, topping the consensus estimate of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative return on equity of 41.46% and a negative net margin of 6,046.22%.The company’s quarterly revenue was up NaN% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.88) earnings per share. Research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Isabel Kalofonos sold 2,500 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $55.00, for a total transaction of $137,500.00. Following the transaction, the insider directly owned 834 shares in the company, valued at $45,870. The trade was a 74.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CRNX has been the topic of a number of research analyst reports. Lifesci Capital upgraded Crinetics Pharmaceuticals to a “strong-buy” rating in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Wednesday, January 21st. Wall Street Zen upgraded Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. The Goldman Sachs Group upgraded shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Monday, January 12th. Finally, Citizens Jmp reduced their price target on shares of Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating for the company in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.78.

Crinetics Pharmaceuticals Profile

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.