Intech Investment Management LLC Has $2.20 Million Stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Intech Investment Management LLC lifted its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 92.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,105 shares of the company’s stock after purchasing an additional 20,757 shares during the quarter. Intech Investment Management LLC’s holdings in Crinetics Pharmaceuticals were worth $2,204,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Barclays PLC raised its position in shares of Crinetics Pharmaceuticals by 75.5% during the third quarter. Barclays PLC now owns 207,712 shares of the company’s stock worth $10,614,000 after purchasing an additional 89,358 shares during the period. Franklin Resources Inc. raised its position in shares of Crinetics Pharmaceuticals by 61.4% during the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock worth $73,815,000 after purchasing an additional 528,688 shares during the period. Geode Capital Management LLC raised its position in shares of Crinetics Pharmaceuticals by 10.1% during the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock worth $94,458,000 after purchasing an additional 169,746 shares during the period. SG Americas Securities LLC raised its position in shares of Crinetics Pharmaceuticals by 4,084.6% during the fourth quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock worth $27,735,000 after purchasing an additional 529,483 shares during the period. Finally, Fisher Asset Management LLC raised its position in Crinetics Pharmaceuticals by 8.4% in the 3rd quarter. Fisher Asset Management LLC now owns 482,099 shares of the company’s stock valued at $24,635,000 after buying an additional 37,429 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Stock Down 1.0 %

CRNX opened at $34.33 on Friday. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -9.20 and a beta of 0.58. The firm has a 50-day moving average price of $36.34 and a 200-day moving average price of $48.26. Crinetics Pharmaceuticals, Inc. has a twelve month low of $31.84 and a twelve month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, sell-side analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Transactions at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total value of $195,350.00. Following the completion of the transaction, the insider now directly owns 31,748 shares in the company, valued at approximately $1,240,394.36. This trade represents a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CRNX shares. Wolfe Research started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a “peer perform” rating for the company. Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, January 22nd. JMP Securities reissued a “market outperform” rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. TD Cowen started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.30.

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.