China Universal Asset Management Co. Ltd. increased its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Free Report) by 66.1% during the 3rd quarter, Holdings Channel reports. The firm owned 15,393 shares of the company’s stock after buying an additional 6,128 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Crinetics Pharmaceuticals were worth $787,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the business. Driehaus Capital Management LLC grew its stake in shares of Crinetics Pharmaceuticals by 17.0% in the second quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company’s stock worth $273,764,000 after purchasing an additional 885,876 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Crinetics Pharmaceuticals by 27.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company’s stock worth $178,966,000 after purchasing an additional 814,360 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Crinetics Pharmaceuticals by 2.1% in the first quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company’s stock worth $167,349,000 after purchasing an additional 72,624 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Crinetics Pharmaceuticals by 10.6% in the first quarter. Jennison Associates LLC now owns 2,817,854 shares of the company’s stock worth $131,904,000 after purchasing an additional 270,171 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Crinetics Pharmaceuticals by 264.1% in the first quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company’s stock worth $92,526,000 after purchasing an additional 1,434,909 shares during the last quarter. 98.51% of the stock is owned by institutional investors.
Crinetics Pharmaceuticals Stock Performance
CRNX stock opened at $56.26 on Wednesday. The firm has a 50 day moving average price of $53.62 and a 200-day moving average price of $49.99. Crinetics Pharmaceuticals, Inc. has a 52-week low of $25.75 and a 52-week high of $60.04. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of -14.88 and a beta of 0.63.
Insider Buying and Selling
In related news, CFO Marc Wilson sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 111,092 shares in the company, valued at $5,677,912.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Stephen F. Betz sold 1,035 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were 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 directly owns 68,576 shares in the company, valued at $3,531,664. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marc Wilson sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the completion of the transaction, the chief financial officer now owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,410 shares of company stock worth $2,275,929 in the last three months. Insiders own 6.00% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on CRNX. Oppenheimer reaffirmed an “outperform” rating and set a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. HC Wainwright lifted their price objective on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. JPMorgan Chase & Co. lifted their price objective on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $97.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 2nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.55.
Check Out Our Latest Analysis on CRNX
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.
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