Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,848,133 shares of the company’s stock after acquiring an additional 169,746 shares during the period. Geode Capital Management LLC owned approximately 1.99% of Crinetics Pharmaceuticals worth $94,458,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CRNX. Barclays PLC boosted its holdings in shares of Crinetics Pharmaceuticals by 75.5% in the 3rd quarter. Barclays PLC now owns 207,712 shares of the company’s stock valued at $10,614,000 after purchasing an additional 89,358 shares during the last quarter. Castleark Management LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter worth $3,748,000. State Street Corp raised its stake in shares of Crinetics Pharmaceuticals by 0.9% in the 3rd quarter. State Street Corp now owns 2,838,484 shares of the company’s stock valued at $145,047,000 after acquiring an additional 25,561 shares during the period. Cinctive Capital Management LP purchased a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth $2,527,000. Finally, Vestal Point Capital LP acquired a new stake in Crinetics Pharmaceuticals in the 3rd quarter valued at $10,476,000. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 501 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total value of $28,316.52. Following the transaction, the chief operating officer now owns 51,653 shares of the company’s stock, valued at approximately $2,919,427.56. This represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dana Pizzuti sold 14,375 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $54.63, for a total value of $785,306.25. Following the sale, the insider now directly owns 28,507 shares of the company’s stock, valued at approximately $1,557,337.41. This represents a 33.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,876 shares of company stock worth $2,091,373 in the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

Crinetics Pharmaceuticals Price Performance

CRNX opened at $52.74 on Friday. Crinetics Pharmaceuticals, Inc. has a 12 month low of $33.67 and a 12 month high of $62.53. The stock’s 50 day moving average price is $57.01 and its 200 day moving average price is $52.59. The stock has a market cap of $4.89 billion, a P/E ratio of -14.14 and a beta of 0.60.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period in the previous year, the company earned ($1.01) earnings per share. Equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CRNX shares. HC Wainwright increased their target price on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Citigroup increased their price objective on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $70.82.

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.