Assetmark Inc. Buys 1,014 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Assetmark Inc. boosted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,161 shares of the company’s stock after buying an additional 1,014 shares during the quarter. Assetmark Inc.’s holdings in Crinetics Pharmaceuticals were worth $929,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of Crinetics Pharmaceuticals by 4,084.6% during the fourth quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock worth $27,735,000 after acquiring an additional 529,483 shares during the period. Franklin Resources Inc. increased its holdings in 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 purchasing an additional 528,688 shares during the period. FMR LLC increased its holdings 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 purchasing an additional 358,975 shares during the period. Vestal Point Capital LP purchased a new stake in shares of Crinetics Pharmaceuticals in the 3rd quarter worth $10,476,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Crinetics Pharmaceuticals by 10.1% in 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 period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Price Performance

Crinetics Pharmaceuticals stock opened at $34.26 on Wednesday. Crinetics Pharmaceuticals, Inc. has a 1-year low of $31.84 and a 1-year high of $62.53. The business has a fifty day moving average price of $38.87 and a 200-day moving average price of $49.25. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -9.18 and a beta of 0.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on CRNX. Citigroup lifted their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, November 14th. HC Wainwright restated a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a “peer perform” rating on the stock. JMP Securities reissued a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Finally, TD Cowen assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Crinetics Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $72.64.

Insider Buying and Selling

In related news, insider Dana Pizzuti sold 5,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the completion of the transaction, the insider now owns 31,748 shares in the company, valued at $1,240,394.36. This trade represents a 13.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.00% of the stock is owned by company insiders.

About Crinetics Pharmaceuticals

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.