Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 285,956 shares of the company’s stock after purchasing an additional 894 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.31% of Crinetics Pharmaceuticals worth $14,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at $42,000. Values First Advisors Inc. acquired a new position in Crinetics Pharmaceuticals in the third quarter valued at $84,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Crinetics Pharmaceuticals during the third quarter worth about $91,000. KBC Group NV increased its position in shares of Crinetics Pharmaceuticals by 22.8% during the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock worth $112,000 after purchasing an additional 407 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Crinetics Pharmaceuticals by 20.8% in the 2nd quarter. Amalgamated Bank now owns 2,692 shares of the company’s stock valued at $121,000 after purchasing an additional 464 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Price Performance

NASDAQ:CRNX opened at $40.59 on Friday. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -10.88 and a beta of 0.60. The firm’s fifty day moving average price is $55.36 and its 200 day moving average price is $53.22. Crinetics Pharmaceuticals, Inc. has a 1-year low of $35.24 and a 1-year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter last year, the firm earned ($1.01) EPS. As a group, analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on CRNX. JMP Securities restated a “market outperform” rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. HC Wainwright raised their target price on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Citigroup upped their price target on shares of Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Crinetics Pharmaceuticals has a consensus rating of “Buy” and an average target price of $74.40.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 501 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $56.52, for a total value of $28,316.52. Following the completion of the transaction, the chief operating officer now owns 51,653 shares in the company, valued at approximately $2,919,427.56. This represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.00% of the stock is owned by insiders.

Crinetics Pharmaceuticals Company Profile

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.