American Century Companies Inc. Has $47.21 Million Stake in Crinetics Pharmaceuticals, Inc. $CRNX

American Century Companies Inc. grew its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 33.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,133,535 shares of the company’s stock after acquiring an additional 284,897 shares during the quarter. American Century Companies Inc. owned 1.19% of Crinetics Pharmaceuticals worth $47,212,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of CRNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position 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 lifted its stake in 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 buying an additional 22,305 shares in the last quarter. Strs Ohio acquired a new position in shares of Crinetics Pharmaceuticals in the first quarter valued at approximately $124,000. Teacher Retirement System of Texas boosted its holdings in shares of Crinetics Pharmaceuticals by 6.0% in the second quarter. Teacher Retirement System of Texas now owns 23,781 shares of the company’s stock valued at $684,000 after buying an additional 1,339 shares during the period. Finally, Assetmark Inc. increased its position in shares of Crinetics Pharmaceuticals by 3.3% during the second quarter. Assetmark Inc. now owns 18,667 shares of the company’s stock worth $537,000 after acquiring an additional 603 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Isabel Kalofonos sold 2,500 shares of the firm’s stock in a transaction 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 sale, the insider owned 834 shares of the company’s stock, valued at $45,870. This trade represents a 74.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Tobin Schilke sold 6,713 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $39.67, for a total transaction of $266,304.71. Following the completion of the transaction, the chief financial officer owned 78,121 shares in the company, valued at approximately $3,099,060.07. This represents a 7.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,213 shares of company stock valued at $522,815 in the last quarter. 4.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Citizens Jmp cut their price target on Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating on the stock in a report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Wednesday, January 21st. Wall Street Zen raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, The Goldman Sachs Group upgraded Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.78.

Crinetics Pharmaceuticals Stock Performance

Crinetics Pharmaceuticals stock opened at $38.90 on Friday. The stock has a 50-day simple moving average of $48.12 and a 200 day simple moving average of $43.39. The stock has a market capitalization of $4.07 billion, a P/E ratio of -7.87 and a beta of 0.23. Crinetics Pharmaceuticals, Inc. has a 52 week low of $24.10 and a 52 week high of $57.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, February 26th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative return on equity of 41.46% and a negative net margin of 6,046.22%.During the same period in the previous year, the business earned ($0.88) earnings per share. The business’s revenue was up NaN% on a year-over-year basis. Research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Crinetics Pharmaceuticals 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.