Handelsbanken Fonder AB Buys 2,800 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Handelsbanken Fonder AB lifted its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 14.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,800 shares of the company’s stock after purchasing an additional 2,800 shares during the period. Handelsbanken Fonder AB’s holdings in Crinetics Pharmaceuticals were worth $1,115,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CRNX. FMR LLC lifted its holdings in Crinetics Pharmaceuticals by 8.8% in the third quarter. FMR LLC now owns 4,455,770 shares of the company’s stock valued at $227,690,000 after buying an additional 358,975 shares during the period. State Street Corp raised its holdings in shares of Crinetics Pharmaceuticals by 0.9% during the third quarter. State Street Corp now owns 2,838,484 shares of the company’s stock valued at $145,047,000 after purchasing an additional 25,561 shares during the period. Jennison Associates LLC raised its holdings in shares of Crinetics Pharmaceuticals by 0.5% during the third quarter. Jennison Associates LLC now owns 2,793,614 shares of the company’s stock valued at $142,754,000 after purchasing an additional 13,470 shares during the period. Geode Capital Management LLC raised its holdings in shares of Crinetics Pharmaceuticals by 10.1% during the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock valued at $94,458,000 after purchasing an additional 169,746 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Crinetics Pharmaceuticals by 61.4% during the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock valued at $73,815,000 after purchasing an additional 528,688 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analyst Ratings Changes

CRNX has been the topic of several research reports. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, January 22nd. HC Wainwright reiterated a “buy” rating and set a $81.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. TD Cowen started coverage on shares of Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating on the stock. JMP Securities reissued a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Finally, Wolfe Research started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating for the company. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $72.64.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock opened at $33.21 on Friday. Crinetics Pharmaceuticals, Inc. has a 52-week low of $31.84 and a 52-week high of $62.53. The company has a 50-day simple moving average of $41.53 and a two-hundred day simple moving average of $50.16. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of -8.90 and a beta of 0.56.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. On average, sell-side analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the sale, the insider now directly owns 31,748 shares in the company, valued at approximately $1,240,394.36. This represents a 13.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

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.