Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 0.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,956 shares of the company’s stock after acquiring an additional 894 shares during the quarter. JPMorgan Chase & Co.’s holdings in Crinetics Pharmaceuticals were worth $14,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CRNX. Principal Financial Group Inc. boosted its position in Crinetics Pharmaceuticals by 488.5% during the third quarter. Principal Financial Group Inc. now owns 77,709 shares of the company’s stock worth $3,971,000 after purchasing an additional 64,504 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Crinetics Pharmaceuticals by 61.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock worth $73,815,000 after buying an additional 528,688 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Crinetics Pharmaceuticals by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock worth $94,458,000 after buying an additional 169,746 shares during the last quarter. Barclays PLC boosted its position in shares of Crinetics Pharmaceuticals by 75.5% in the 3rd quarter. Barclays PLC now owns 207,712 shares of the company’s stock worth $10,614,000 after buying an additional 89,358 shares in the last quarter. Finally, Castleark Management LLC acquired a new stake in Crinetics Pharmaceuticals in the 3rd quarter valued at about $3,748,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Transactions at Crinetics Pharmaceuticals

In related news, COO Jeff E. Knight sold 501 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $56.52, for a total value of $28,316.52. Following the sale, the chief operating officer now directly owns 51,653 shares of the company’s stock, valued at approximately $2,919,427.56. This trade represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

CRNX has been the subject of a number of research reports. HC Wainwright lifted their target price on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. Citigroup increased their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, JMP Securities reissued a “market outperform” rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Crinetics Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $74.40.

Crinetics Pharmaceuticals Stock Down 16.3 %

Shares of Crinetics Pharmaceuticals stock opened at $40.59 on Friday. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $35.24 and a fifty-two week high of $62.53. The business’s fifty day moving average is $55.36 and its two-hundred day moving average is $53.22. The firm has a market cap of $3.76 billion, a PE ratio of -10.88 and a beta of 0.60.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released 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 quarter in the previous year, the business posted ($1.01) earnings per share. Equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current year.

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.