Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock Position Decreased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 6.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 848,050 shares of the company’s stock after selling 60,099 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Crinetics Pharmaceuticals were worth $43,361,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC acquired a new position in Crinetics Pharmaceuticals during the 4th quarter valued at approximately $41,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Crinetics Pharmaceuticals during the fourth quarter valued at $66,000. KBC Group NV grew its position in shares of Crinetics Pharmaceuticals by 69.3% during the fourth quarter. KBC Group NV now owns 3,712 shares of the company’s stock worth $190,000 after acquiring an additional 1,519 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Crinetics Pharmaceuticals by 13.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company’s stock worth $254,000 after acquiring an additional 600 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its position in Crinetics Pharmaceuticals by 19.5% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 5,038 shares of the company’s stock valued at $258,000 after purchasing an additional 822 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Crinetics Pharmaceuticals Stock Down 0.5 %

CRNX stock opened at $34.73 on Monday. Crinetics Pharmaceuticals, Inc. has a twelve month low of $31.84 and a twelve month high of $62.53. The company has a market cap of $3.23 billion, a PE ratio of -9.31 and a beta of 0.58. The business’s 50-day simple moving average is $36.02 and its 200 day simple moving average is $47.51.

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

Analyst Upgrades and Downgrades

CRNX has been the topic of several analyst reports. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They issued a “buy” rating on the stock. HC Wainwright reaffirmed a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. JMP Securities reissued a “market outperform” rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Stifel Nicolaus started coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, March 25th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Wednesday, January 22nd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals 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 approximately $1,240,394.36. The trade was a 13.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Scott Struthers sold 17,338 shares of Crinetics Pharmaceuticals 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 transaction, the chief executive officer now directly owns 329,147 shares of the company’s stock, valued at $11,256,827.40. This represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,015 shares of company stock worth $1,119,263 in the last quarter. 6.00% of the stock is owned by corporate insiders.

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.