Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 134.2% during the third quarter, HoldingsChannel.com reports. The firm owned 20,942 shares of the company’s stock after buying an additional 12,000 shares during the period. BNP Paribas Financial Markets’ holdings in Crinetics Pharmaceuticals were worth $1,070,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CRNX. Driehaus Capital Management LLC raised its position in shares of Crinetics Pharmaceuticals by 17.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 6,112,173 shares of the company’s stock valued at $273,764,000 after purchasing an additional 885,876 shares in the last quarter. Farallon Capital Management LLC increased its holdings in shares of Crinetics Pharmaceuticals by 9,840.0% in the 2nd quarter. Farallon Capital Management LLC now owns 497,000 shares of the company’s stock valued at $22,261,000 after acquiring an additional 492,000 shares during the last quarter. Hood River Capital Management LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at approximately $18,379,000. First Turn Management LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at approximately $16,541,000. Finally, FMR LLC increased its holdings in shares of Crinetics Pharmaceuticals by 8.8% in the 3rd quarter. FMR LLC now owns 4,455,770 shares of the company’s stock valued at $227,690,000 after acquiring an additional 358,975 shares during the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Stock Up 1.0 %

Shares of NASDAQ CRNX opened at $57.17 on Wednesday. Crinetics Pharmaceuticals, Inc. has a 12 month low of $32.56 and a 12 month high of $62.53. The company has a market cap of $5.30 billion, a price-to-earnings ratio of -15.33 and a beta of 0.60. The business has a fifty day simple moving average of $56.66 and a 200-day simple moving average of $52.24.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. HC Wainwright boosted their price target on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Friday, September 27th. Citigroup upped their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $70.18.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $51.11, for a total value of $1,277,750.00. Following the transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at $5,677,912.12. This represents a 18.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Jeff E. Knight sold 501 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $56.52, for a total value of $28,316.52. Following the completion of the transaction, the chief operating officer now directly owns 51,653 shares in the company, valued at approximately $2,919,427.56. The trade was a 0.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,876 shares of company stock valued at $2,091,373 in the last three months. Insiders own 6.00% of the company’s stock.

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.