Candriam S.C.A. Grows Stock Position in Crinetics Pharmaceuticals, Inc. $CRNX

Candriam S.C.A. grew its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 7.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 745,094 shares of the company’s stock after buying an additional 51,225 shares during the period. Candriam S.C.A. owned 0.79% of Crinetics Pharmaceuticals worth $31,033,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CRNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Crinetics Pharmaceuticals by 11.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,311 shares of the company’s stock valued at $1,995,000 after purchasing an additional 6,148 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Crinetics Pharmaceuticals by 6.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,581 shares of the company’s stock valued at $11,658,000 after purchasing an additional 22,305 shares during the period. Strs Ohio purchased a new stake in shares of Crinetics Pharmaceuticals during the 1st quarter valued at approximately $124,000. KLP Kapitalforvaltning AS boosted its holdings in Crinetics Pharmaceuticals by 17.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,800 shares of the company’s stock worth $541,000 after buying an additional 2,800 shares during the period. Finally, Aberdeen Group plc grew its stake in Crinetics Pharmaceuticals by 34.7% in the 2nd quarter. Aberdeen Group plc now owns 280,347 shares of the company’s stock valued at $8,063,000 after buying an additional 72,288 shares in 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, insider Isabel Kalofonos sold 2,500 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $55.00, for a total transaction of $137,500.00. Following the sale, the insider owned 834 shares in the company, valued at $45,870. This trade represents a 74.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CRNX. Weiss Ratings restated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Wednesday, January 21st. The Goldman Sachs Group upgraded Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Monday, January 12th. Morgan Stanley raised their target price on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Citizens Jmp reduced their target price on Crinetics Pharmaceuticals from $108.00 to $105.00 and set a “market outperform” rating for the company in a report on Thursday, January 8th. Finally, Wall Street Zen upgraded shares of Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Crinetics Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $82.50.

Crinetics Pharmaceuticals Price Performance

Shares of Crinetics Pharmaceuticals stock opened at $46.01 on Tuesday. Crinetics Pharmaceuticals, Inc. has a 1 year low of $24.10 and a 1 year high of $57.99. The firm has a market cap of $4.70 billion, a PE ratio of -10.16 and a beta of 0.19. The company has a 50 day simple moving average of $49.87 and a two-hundred day simple moving average of $41.80.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.