Fisher Asset Management LLC Purchases 37,429 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Fisher Asset Management LLC grew its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 8.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 482,099 shares of the company’s stock after acquiring an additional 37,429 shares during the period. Fisher Asset Management LLC’s holdings in Crinetics Pharmaceuticals were worth $24,635,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Comerica Bank bought a new position in shares of Crinetics Pharmaceuticals during the 1st quarter valued at about $33,000. Quest Partners LLC bought a new position in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at about $42,000. Values First Advisors Inc. bought a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter valued at about $84,000. Allspring Global Investments Holdings LLC bought a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter valued at about $91,000. Finally, KBC Group NV increased its position in shares of Crinetics Pharmaceuticals by 22.8% during the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after purchasing an additional 407 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

Insider Transactions at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 14,375 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total transaction of $785,306.25. Following the completion of the transaction, the insider now owns 28,507 shares of the company’s stock, valued at $1,557,337.41. This trade represents a 33.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Marc Wilson sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total value of $1,277,750.00. Following the transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. This trade represents a 18.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,911 shares of company stock valued at $2,144,675. Corporate insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX opened at $57.67 on Thursday. Crinetics Pharmaceuticals, Inc. has a 52-week low of $30.87 and a 52-week high of $62.53. The firm has a market capitalization of $5.35 billion, a P/E ratio of -15.46 and a beta of 0.62. The stock has a 50 day moving average price of $55.48 and a 200-day moving average price of $51.71.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same period in the previous year, the company earned ($1.01) earnings per share. On average, equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. HC Wainwright increased their target price on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. JMP Securities restated a “market outperform” rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Citigroup increased their target price on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Oppenheimer restated an “outperform” rating and set a $73.00 target price (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.18.

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.