E Fund Management Co. Ltd. Acquires 2,914 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

E Fund Management Co. Ltd. raised its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 28.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,069 shares of the company’s stock after acquiring an additional 2,914 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Crinetics Pharmaceuticals were worth $465,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC grew its holdings in shares of Crinetics Pharmaceuticals by 77.7% in the fourth quarter. Jennison Associates LLC now owns 2,547,683 shares of the company’s stock worth $90,647,000 after purchasing an additional 1,113,992 shares during the last quarter. FMR LLC grew its stake in Crinetics Pharmaceuticals by 97.7% in the 3rd quarter. FMR LLC now owns 2,140,861 shares of the company’s stock worth $63,669,000 after acquiring an additional 1,057,947 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Crinetics Pharmaceuticals by 24.7% during the third quarter. Vanguard Group Inc. now owns 3,407,035 shares of the company’s stock worth $101,325,000 after acquiring an additional 674,301 shares during the period. Avidity Partners Management LP bought a new stake in shares of Crinetics Pharmaceuticals during the third quarter valued at approximately $18,141,000. Finally, Eventide Asset Management LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 134.3% in the third quarter. Eventide Asset Management LLC now owns 1,018,782 shares of the company’s stock valued at $30,299,000 after purchasing an additional 584,014 shares during the period. Institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Trading Down 2.9 %

Shares of CRNX stock traded down $1.47 during mid-day trading on Thursday, reaching $49.42. The stock had a trading volume of 841,329 shares, compared to its average volume of 775,246. Crinetics Pharmaceuticals, Inc. has a 1-year low of $15.76 and a 1-year high of $51.29. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -13.36 and a beta of 0.63. The business’s fifty day moving average is $44.29 and its 200-day moving average is $37.76.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 52.93% and a negative net margin of 4,223.27%. The company’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.84) EPS. On average, analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.34 earnings per share for the current year.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 40,951 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $49.17, for a total transaction of $2,013,560.67. Following the sale, the chief executive officer now directly owns 237,835 shares of the company’s stock, valued at approximately $11,694,346.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Dana Pizzuti sold 14,375 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $44.47, for a total transaction of $639,256.25. Following the sale, the insider now owns 27,786 shares in the company, valued at $1,235,643.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard Scott Struthers sold 40,951 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $49.17, for a total transaction of $2,013,560.67. Following the sale, the chief executive officer now directly owns 237,835 shares in the company, valued at $11,694,346.95. The disclosure for this sale can be found here. Insiders sold 187,216 shares of company stock worth $8,509,397 over the last three months. Company insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Jonestrading increased their target price on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. JMP Securities reissued a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a report on Thursday, March 28th. Oppenheimer raised their price objective on Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Piper Sandler increased their price target on shares of Crinetics Pharmaceuticals from $56.00 to $97.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Morgan Stanley began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, January 16th. They issued an “overweight” rating and a $50.00 price objective on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.58.

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.