Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Purchased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. lifted its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 28.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,069 shares of the company’s stock after acquiring an additional 2,914 shares during the period. E Fund Management Co. Ltd.’s holdings in Crinetics Pharmaceuticals were worth $465,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CRNX. China Universal Asset Management Co. Ltd. boosted its position in Crinetics Pharmaceuticals by 98.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company’s stock worth $42,000 after purchasing an additional 695 shares during the period. AJOVista LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter worth about $58,000. HighMark Wealth Management LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at about $151,000. Amalgamated Bank raised its holdings in shares of Crinetics Pharmaceuticals by 10.4% during the 3rd quarter. Amalgamated Bank now owns 6,298 shares of the company’s stock valued at $187,000 after buying an additional 592 shares during the period. Finally, RWA Wealth Partners LLC purchased a new position in Crinetics Pharmaceuticals in the 4th quarter worth approximately $203,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Cantor Fitzgerald boosted their target price on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Piper Sandler upped their price objective on shares of Crinetics Pharmaceuticals from $56.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday. Oppenheimer lifted their target price on Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Robert W. Baird raised their price objective on Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a research report on Thursday, March 28th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $57.58.

Crinetics Pharmaceuticals Stock Down 2.9 %

CRNX stock traded down $1.47 during midday trading on Thursday, reaching $49.42. The company had a trading volume of 841,329 shares, compared to its average volume of 775,246. The firm has a market capitalization of $3.89 billion, a PE ratio of -13.36 and a beta of 0.63. The stock has a 50 day moving average price of $44.29 and a 200 day moving average price of $37.76. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $15.76 and a fifty-two week high of $51.29.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue was down 100.0% compared to the same quarter last year. During the same period last year, the business posted ($0.84) EPS. Research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.34 EPS for the current year.

Insider Activity

In related news, CFO Marc Wilson sold 6,942 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $42.91, for a total value of $297,881.22. Following the sale, the chief financial officer now owns 110,630 shares of the company’s stock, valued at approximately $4,747,133.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Marc Wilson sold 6,942 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $42.91, for a total value of $297,881.22. Following the completion of the transaction, the chief financial officer now directly owns 110,630 shares of the company’s stock, valued at approximately $4,747,133.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dana Pizzuti sold 15,089 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $44.06, for a total value of $664,821.34. Following the completion of the sale, the insider now owns 27,786 shares in the company, valued at $1,224,251.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 187,216 shares of company stock valued at $8,509,397. 7.00% of the stock is currently owned by company 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.