Handelsbanken Fonder AB grew its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Free Report) by 22.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,000 shares of the company’s stock after acquiring an additional 6,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Crinetics Pharmaceuticals were worth $1,347,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. GW&K Investment Management LLC increased its stake in Crinetics Pharmaceuticals by 73.6% during the 4th quarter. GW&K Investment Management LLC now owns 1,476,325 shares of the company’s stock worth $68,723,000 after purchasing an additional 625,779 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Crinetics Pharmaceuticals by 5.3% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 408,312 shares of the company’s stock valued at $19,007,000 after buying an additional 20,387 shares in the last quarter. UBS Group AG boosted its holdings in shares of Crinetics Pharmaceuticals by 122.7% in the fourth quarter. UBS Group AG now owns 908,192 shares of the company’s stock valued at $42,276,000 after buying an additional 500,470 shares during the period. Sector Gamma AS acquired a new position in shares of Crinetics Pharmaceuticals in the fourth quarter valued at approximately $5,353,000. Finally, Glenmede Trust Co. NA increased its position in shares of Crinetics Pharmaceuticals by 72.6% during the first quarter. Glenmede Trust Co. NA now owns 29,245 shares of the company’s stock worth $1,062,000 after acquiring an additional 12,301 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.
Crinetics Pharmaceuticals Price Performance
Shares of NASDAQ:CRNX opened at $84.72 on Wednesday. The company’s 50-day moving average price is $66.01 and its two-hundred day moving average price is $48.69. Crinetics Pharmaceuticals, Inc. has a one year low of $28.73 and a one year high of $84.80. The stock has a market capitalization of $8.99 billion, a PE ratio of -16.81 and a beta of 0.12.
Insider Activity at Crinetics Pharmaceuticals
In other Crinetics Pharmaceuticals news, Director Stephanie Okey sold 6,900 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $35.67, for a total value of $246,123.00. Following the completion of the transaction, the director directly owned 6,400 shares in the company, valued at $228,288. This trade represents a 51.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the director directly owned 19,225 shares in the company, valued at $769,000. This trade represents a 13.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.80% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have issued reports on CRNX. Lifesci Capital cut Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. HC Wainwright downgraded Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and increased their price objective for the stock from $81.00 to $85.00 in a report on Tuesday, July 7th. Wall Street Zen raised Crinetics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. TD Cowen cut Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, Evercore cut Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $81.00.
View Our Latest Report on Crinetics Pharmaceuticals
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.
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