Fisher Asset Management LLC Cuts Holdings in Crinetics Pharmaceuticals, Inc. $CRNX

Fisher Asset Management LLC decreased its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 4.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 737,084 shares of the company’s stock after selling 36,263 shares during the period. Fisher Asset Management LLC owned about 0.78% of Crinetics Pharmaceuticals worth $21,199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CRNX. New York State Common Retirement Fund raised its position in shares of Crinetics Pharmaceuticals by 2.2% in the 2nd quarter. New York State Common Retirement Fund now owns 140,918 shares of the company’s stock worth $4,053,000 after acquiring an additional 3,000 shares in the last quarter. Schroder Investment Management Group grew its stake in Crinetics Pharmaceuticals by 82.0% in the second quarter. Schroder Investment Management Group now owns 140,978 shares of the company’s stock valued at $4,055,000 after purchasing an additional 63,517 shares during the last quarter. Capital Fund Management S.A. bought a new position in Crinetics Pharmaceuticals in the second quarter worth about $424,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Crinetics Pharmaceuticals during the second quarter valued at about $100,000. Finally, XTX Topco Ltd bought a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at about $978,000. Institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Stock Performance

NASDAQ:CRNX opened at $45.01 on Wednesday. The firm’s fifty day moving average is $42.76 and its two-hundred day moving average is $35.22. The firm has a market cap of $4.27 billion, a price-to-earnings ratio of -9.94 and a beta of 0.20. Crinetics Pharmaceuticals, Inc. has a one year low of $24.10 and a one year high of $60.34.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.27) by ($0.11). The firm had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.39 million. During the same period in the previous year, the business posted ($0.96) earnings per share. As a group, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In related news, CEO Richard Scott Struthers sold 4,000 shares of the stock in a transaction on Friday, September 26th. The shares were sold at an average price of $45.00, for a total transaction of $180,000.00. Following the sale, the chief executive officer directly owned 106,000 shares of the company’s stock, valued at approximately $4,770,000. This represents a 3.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Matthew K. Fust sold 16,000 shares of the firm’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $44.75, for a total transaction of $716,000.00. Following the sale, the director owned 22,836 shares in the company, valued at approximately $1,021,911. This represents a 41.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 30,000 shares of company stock valued at $1,318,350. 6.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on CRNX shares. Citizens Jmp reduced their price objective on shares of Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating for the company in a research note on Friday, November 7th. JPMorgan Chase & Co. reduced their price target on Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. The Goldman Sachs Group increased their price objective on Crinetics Pharmaceuticals from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 26th. Morgan Stanley boosted their target price on Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Finally, Robert W. Baird upped their target price on Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Crinetics Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.55.

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.