Natixis Advisors LLC Raises Stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Natixis Advisors LLC increased its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 36.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 44,346 shares of the company’s stock after acquiring an additional 11,870 shares during the period. Natixis Advisors LLC’s holdings in Crinetics Pharmaceuticals were worth $2,266,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRNX. Comerica Bank acquired a new stake in Crinetics Pharmaceuticals in the 1st quarter valued at about $33,000. Quest Partners LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the second quarter valued at about $42,000. Values First Advisors Inc. acquired a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at approximately $84,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter worth approximately $91,000. Finally, KBC Group NV raised its position in shares of Crinetics Pharmaceuticals by 22.8% during the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after purchasing an additional 407 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Activity

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 14,375 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 28,507 shares of the company’s stock, valued at $1,557,337.41. This trade represents a 33.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marc Wilson sold 25,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 111,092 shares in the company, valued at approximately $5,677,912.12. The trade was a 18.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,410 shares of company stock valued at $2,116,359. Company insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Trading Down 1.7 %

CRNX stock opened at $56.06 on Monday. The stock has a 50-day moving average price of $55.36 and a two-hundred day moving average price of $51.60. The company has a market cap of $5.20 billion, a PE ratio of -15.03 and a beta of 0.62. Crinetics Pharmaceuticals, Inc. has a 12-month low of $30.50 and a 12-month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly 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 quarter in the previous year, the firm posted ($1.01) EPS. Equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CRNX shares. Oppenheimer reissued an “outperform” rating and set a $73.00 price target (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. HC Wainwright raised their price target on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Citigroup boosted 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. Finally, JMP Securities reissued a “market outperform” rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.18.

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.