State of New Jersey Common Pension Fund D Increases Stock Holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

State of New Jersey Common Pension Fund D lifted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,049 shares of the company’s stock after buying an additional 708 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Crinetics Pharmaceuticals were worth $1,945,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CRNX. Allspring Global Investments Holdings LLC acquired a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth $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. Advisors Asset Management Inc. lifted its holdings in shares of Crinetics Pharmaceuticals by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock valued at $143,000 after purchasing an additional 1,008 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Crinetics Pharmaceuticals by 23.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,895 shares of the company’s stock valued at $147,000 after purchasing an additional 541 shares during the period. Finally, Commerce Bank purchased a new position in Crinetics Pharmaceuticals during the 3rd quarter worth approximately $212,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Activity at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.07, for a total value of $195,350.00. Following the completion of the transaction, the insider now owns 31,748 shares in the company, valued at $1,240,394.36. This trade represents a 13.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Trading Down 7.6 %

Shares of CRNX opened at $34.62 on Tuesday. The stock’s 50 day moving average is $42.77 and its two-hundred day moving average is $50.51. Crinetics Pharmaceuticals, Inc. has a twelve month low of $34.07 and a twelve month high of $62.53. The firm has a market capitalization of $3.21 billion, a PE ratio of -9.28 and a beta of 0.56.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup boosted their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating for the company. Wolfe Research initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating on the stock. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Wednesday, January 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.64.

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.