Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock Holdings Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 16.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 63,077 shares of the company’s stock after purchasing an additional 8,751 shares during the quarter. Envestnet Asset Management Inc. owned 0.07% of Crinetics Pharmaceuticals worth $3,225,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Crinetics Pharmaceuticals by 44.6% in the fourth quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company’s stock worth $464,741,000 after acquiring an additional 2,801,736 shares in the last quarter. Wellington Management Group LLP raised its holdings 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 in the last quarter. Geode Capital Management LLC lifted its stake in Crinetics Pharmaceuticals by 13.6% during the fourth quarter. Geode Capital Management LLC now owns 2,098,841 shares of the company’s stock valued at $107,339,000 after purchasing an additional 250,708 shares during the last quarter. Franklin Resources Inc. lifted its stake in Crinetics Pharmaceuticals by 14.5% during the fourth quarter. Franklin Resources Inc. now owns 1,591,666 shares of the company’s stock valued at $81,382,000 after purchasing an additional 201,556 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Crinetics Pharmaceuticals by 15.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 759,126 shares of the company’s stock worth $38,814,000 after buying an additional 103,708 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Stock Up 3.2 %

CRNX stock opened at $33.39 on Friday. The company has a 50 day moving average of $32.45 and a two-hundred day moving average of $44.31. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $62.53. The company has a market cap of $3.11 billion, a price-to-earnings ratio of -8.95 and a beta of 0.37.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released 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, research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analysts Forecast Growth

CRNX has been the subject of a number of recent research reports. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating for the company. TD Cowen initiated coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a “buy” rating for the company. Stifel Nicolaus began coverage on Crinetics Pharmaceuticals in a research note on Tuesday, March 25th. They issued a “buy” rating and a $60.00 price target on the stock. Jefferies Financial Group raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Wednesday, January 22nd. Finally, HC Wainwright reissued a “buy” rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Insider Activity

In related news, COO Jeff E. Knight sold 7,162 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $244,940.40. Following the completion of the sale, the chief operating officer now directly owns 87,491 shares in the company, valued at approximately $2,992,192.20. This represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dana Pizzuti sold 2,515 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $86,013.00. Following the transaction, the insider now owns 72,233 shares in the company, valued at approximately $2,470,368.60. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,015 shares of company stock worth $1,119,263 in the last three months. 6.00% of the stock is owned by insiders.

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.