Zurcher Kantonalbank Zurich Cantonalbank Sells 1,515 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 14.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,674 shares of the company’s stock after selling 1,515 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Crinetics Pharmaceuticals were worth $309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Crinetics Pharmaceuticals by 6.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,218 shares of the company’s stock worth $1,395,000 after buying an additional 2,343 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Crinetics Pharmaceuticals by 450.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,721 shares of the company’s stock worth $275,000 after acquiring an additional 6,318 shares in the last quarter. HighMark Wealth Management LLC bought a new position in Crinetics Pharmaceuticals during the fourth quarter worth $151,000. Legato Capital Management LLC acquired a new stake in Crinetics Pharmaceuticals in the fourth quarter worth $412,000. Finally, Vanguard Group Inc. increased its stake in Crinetics Pharmaceuticals by 24.7% in the third quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock valued at $101,325,000 after purchasing an additional 674,301 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 14,375 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $44.47, for a total value of $639,256.25. Following the transaction, the insider now directly owns 27,786 shares in the company, valued at $1,235,643.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Dana Pizzuti sold 14,375 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $44.47, for a total transaction of $639,256.25. Following the completion of the sale, the insider now owns 27,786 shares in the company, valued at approximately $1,235,643.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard Scott Struthers sold 40,951 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $49.17, for a total value of $2,013,560.67. Following the completion of the transaction, the chief executive officer now owns 237,835 shares in the company, valued at approximately $11,694,346.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,216 shares of company stock worth $8,509,397. 7.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 19th. Cantor Fitzgerald raised their price objective on Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Morgan Stanley initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, January 16th. They set an “overweight” rating and a $50.00 target price on the stock. Jonestrading lifted their price target on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Finally, Robert W. Baird upped their price objective on shares of Crinetics Pharmaceuticals from $45.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.00.

Crinetics Pharmaceuticals Stock Up 0.9 %

Crinetics Pharmaceuticals stock opened at $47.20 on Monday. The stock has a market cap of $3.72 billion, a P/E ratio of -12.76 and a beta of 0.63. The company’s 50 day moving average price is $43.83 and its two-hundred day moving average price is $37.41. Crinetics Pharmaceuticals, Inc. has a 52 week low of $15.76 and a 52 week high of $49.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 52.93% and a negative net margin of 4,223.27%. During the same period in the prior year, the business earned ($0.84) EPS. Crinetics Pharmaceuticals’s revenue for the quarter was down 100.0% on a year-over-year basis. On average, equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.34 EPS for the current year.

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.