Aberdeen Group plc Has $14.16 Million Stock Holdings in Crinetics Pharmaceuticals, Inc. $CRNX

Aberdeen Group plc boosted its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 21.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 339,949 shares of the company’s stock after buying an additional 59,602 shares during the period. Aberdeen Group plc owned approximately 0.36% of Crinetics Pharmaceuticals worth $14,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Crinetics Pharmaceuticals by 11.6% in the 1st 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 6.9% during 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 worth $11,658,000 after purchasing an additional 22,305 shares during the period. Strs Ohio acquired a new position in Crinetics Pharmaceuticals in the 1st quarter valued at approximately $124,000. AlphaQuest LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at $799,000. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of Crinetics Pharmaceuticals by 11.9% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 62,552 shares of the company’s stock valued at $1,799,000 after acquiring an additional 6,674 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on CRNX shares. The Goldman Sachs Group raised Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Monday, January 12th. Wall Street Zen lowered shares of Crinetics Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Lifesci Capital raised shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a research report on Friday, February 13th. Citizens Jmp decreased their price objective on shares of 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, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $75.78.

Crinetics Pharmaceuticals Price Performance

CRNX opened at $44.00 on Friday. The company has a market capitalization of $4.50 billion, a P/E ratio of -9.71 and a beta of 0.19. The firm’s fifty day moving average price is $49.42 and its two-hundred day moving average price is $42.47. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $57.99.

Insider Activity at Crinetics Pharmaceuticals

In related news, insider Isabel Kalofonos sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $55.00, for a total transaction of $137,500.00. Following the completion of the transaction, the insider owned 834 shares in the company, valued at $45,870. This trade represents a 74.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.60% of the stock is owned by company insiders.

About Crinetics Pharmaceuticals

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.