China Universal Asset Management Co. Ltd. Acquires 6,128 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

China Universal Asset Management Co. Ltd. increased its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 66.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,393 shares of the company’s stock after acquiring an additional 6,128 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Crinetics Pharmaceuticals were worth $787,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CRNX. Janus Henderson Group PLC increased its holdings in Crinetics Pharmaceuticals by 264.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company’s stock worth $92,526,000 after acquiring an additional 1,434,909 shares during the last quarter. Artal Group S.A. purchased a new stake in Crinetics Pharmaceuticals in the 1st quarter worth about $65,088,000. Driehaus Capital Management LLC increased its holdings in Crinetics Pharmaceuticals by 17.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company’s stock worth $273,764,000 after acquiring an additional 885,876 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Crinetics Pharmaceuticals by 27.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company’s stock worth $178,966,000 after acquiring an additional 814,360 shares during the last quarter. Finally, Farallon Capital Management LLC increased its holdings in Crinetics Pharmaceuticals by 9,840.0% in the 2nd quarter. Farallon Capital Management LLC now owns 497,000 shares of the company’s stock worth $22,261,000 after acquiring an additional 492,000 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Insider Transactions at Crinetics Pharmaceuticals

In other news, CFO Marc Wilson sold 25,000 shares of the business’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Marc Wilson sold 25,000 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total transaction of $1,277,750.00. Following the transaction, the chief financial officer now owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen F. Betz sold 3,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $53.19, for a total transaction of $159,570.00. Following the sale, the insider now owns 69,611 shares of the company’s stock, valued at approximately $3,702,609.09. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,410 shares of company stock valued at $2,275,929. 6.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. HC Wainwright lifted their price objective on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and set a $97.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $73.00 target price (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.55.

Crinetics Pharmaceuticals Trading Down 1.6 %

Shares of NASDAQ CRNX opened at $56.26 on Wednesday. Crinetics Pharmaceuticals, Inc. has a 12 month low of $25.75 and a 12 month 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. The business has a 50-day moving average of $53.62 and a 200-day moving average of $49.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.08). The firm had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.47 million. During the same period last year, the firm earned ($0.94) earnings per share. The company’s quarterly revenue was down 59.6% compared to the same quarter last year. On average, analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

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.