MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 14.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,163 shares of the company’s stock after acquiring an additional 6,719 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Crinetics Pharmaceuticals worth $2,717,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Crinetics Pharmaceuticals by 44.6% in the fourth quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company’s stock valued at $464,741,000 after purchasing an additional 2,801,736 shares during the period. FMR LLC grew its position in shares of Crinetics Pharmaceuticals by 100.4% during the fourth quarter. FMR LLC now owns 8,928,086 shares of the company’s stock worth $456,493,000 after buying an additional 4,472,316 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Crinetics Pharmaceuticals by 55.9% in the 4th quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company’s stock worth $355,382,000 after purchasing an additional 2,490,876 shares during the last quarter. Driehaus Capital Management LLC raised its stake in Crinetics Pharmaceuticals by 4.3% during the fourth quarter. Driehaus Capital Management LLC now owns 6,141,014 shares of the company’s stock valued at $313,990,000 after buying an additional 255,766 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Crinetics Pharmaceuticals by 9.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,414,505 shares of the company’s stock worth $276,844,000 after purchasing an additional 469,748 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $592,959.60. Following the completion of the transaction, the chief executive officer now owns 329,147 shares in the company, valued at approximately $11,256,827.40. This represents a 5.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jeff E. Knight sold 7,162 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $244,940.40. Following the transaction, the chief operating officer now owns 87,491 shares of the company’s stock, valued at approximately $2,992,192.20. The trade was a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,015 shares of company stock valued at $923,913. 4.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on CRNX. Stifel Nicolaus assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They issued a “buy” rating and a $60.00 target price on the stock. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating for the company. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, January 22nd. Finally, 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. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Crinetics Pharmaceuticals Trading Up 1.4%

Crinetics Pharmaceuticals stock opened at $31.37 on Wednesday. The business has a 50-day moving average of $31.57 and a 200-day moving average of $41.21. The firm has a market capitalization of $2.94 billion, a P/E ratio of -8.41 and a beta of 0.31. Crinetics Pharmaceuticals, Inc. has a 1 year low of $24.10 and a 1 year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Thursday, May 8th. The company reported ($1.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.05). The business had revenue of $0.36 million during the quarter, compared to analysts’ expectations of $0.10 million. During the same period last year, the firm posted ($0.93) earnings per share. The company’s revenue for the quarter was down 43.6% on a year-over-year basis. Research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

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.