Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 15.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 759,126 shares of the company’s stock after buying an additional 103,708 shares during the period. Charles Schwab Investment Management Inc. owned about 0.82% of Crinetics Pharmaceuticals worth $38,814,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC increased its stake in shares of Crinetics Pharmaceuticals by 4,084.6% in the 4th quarter. SG Americas Securities LLC now owns 542,446 shares of the company’s stock valued at $27,735,000 after purchasing an additional 529,483 shares in the last quarter. Franklin Resources Inc. grew its holdings in Crinetics Pharmaceuticals by 61.4% in the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock valued at $73,815,000 after purchasing an additional 528,688 shares during the period. FMR LLC increased its position in shares of Crinetics Pharmaceuticals by 8.8% in the third quarter. FMR LLC now owns 4,455,770 shares of the company’s stock valued at $227,690,000 after buying an additional 358,975 shares in the last quarter. Vestal Point Capital LP acquired a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter worth approximately $10,476,000. Finally, Geode Capital Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 10.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock valued at $94,458,000 after buying an additional 169,746 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Dana Pizzuti sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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 directly owns 31,748 shares in the company, valued at approximately $1,240,394.36. This represents a 13.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 6.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CRNX has been the subject of a number of research analyst reports. TD Cowen initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating for the company. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Wednesday, January 22nd. JMP Securities reiterated a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. HC Wainwright reissued a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. Finally, Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.64.

Crinetics Pharmaceuticals Stock Performance

Shares of Crinetics Pharmaceuticals stock opened at $34.47 on Friday. The business’s 50 day moving average price is $37.51 and its 200 day moving average price is $48.75. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -9.24 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a one year low of $31.84 and a one year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Crinetics Pharmaceuticals 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.