Natixis Advisors LLC Purchases 1,337 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Natixis Advisors LLC increased its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,683 shares of the company’s stock after acquiring an additional 1,337 shares during the quarter. Natixis Advisors LLC’s holdings in Crinetics Pharmaceuticals were worth $2,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC boosted its stake in Crinetics Pharmaceuticals by 8.8% during the 3rd quarter. FMR LLC now owns 4,455,770 shares of the company’s stock worth $227,690,000 after acquiring an additional 358,975 shares during the last quarter. State Street Corp lifted its stake in Crinetics Pharmaceuticals by 0.9% in the third quarter. State Street Corp now owns 2,838,484 shares of the company’s stock valued at $145,047,000 after buying an additional 25,561 shares in the last quarter. Geode Capital Management LLC lifted its stake in Crinetics Pharmaceuticals by 10.1% in the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock valued at $94,458,000 after buying an additional 169,746 shares in the last quarter. Franklin Resources Inc. lifted its stake in Crinetics Pharmaceuticals by 61.4% in the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock valued at $73,815,000 after buying an additional 528,688 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Crinetics Pharmaceuticals by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 759,126 shares of the company’s stock valued at $38,814,000 after buying an additional 103,708 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

CRNX has been the topic of a number of research reports. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, January 22nd. Wolfe Research initiated coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a “peer perform” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They issued a “buy” rating on the stock. Finally, JMP Securities restated a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.30.

Insiders Place Their Bets

In other news, CEO Richard Scott Struthers sold 17,338 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $592,959.60. Following the completion of the sale, the chief executive officer now owns 329,147 shares of the company’s stock, valued at approximately $11,256,827.40. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dana Pizzuti sold 2,515 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $86,013.00. Following the completion of the sale, the insider now directly owns 72,233 shares of the company’s stock, valued at approximately $2,470,368.60. The trade was a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,015 shares of company stock valued at $1,119,263 over the last ninety days. 6.00% of the stock is currently owned by company insiders.

Crinetics Pharmaceuticals Price Performance

CRNX stock opened at $34.42 on Monday. The company has a fifty day moving average price of $36.22 and a two-hundred day moving average price of $48.07. Crinetics Pharmaceuticals, Inc. has a one year low of $31.84 and a one year high of $62.53. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -9.23 and a beta of 0.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. Research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal 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.