Fiera Capital Corp Buys 143,030 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

Fiera Capital Corp increased its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 578,455 shares of the company’s stock after acquiring an additional 143,030 shares during the period. Fiera Capital Corp’s holdings in Crinetics Pharmaceuticals were worth $26,927,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP increased its holdings in Crinetics Pharmaceuticals by 44.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,381,991 shares of the company’s stock valued at $349,110,000 after purchasing an additional 2,574,683 shares during the period. Farallon Capital Management LLC raised its position in shares of Crinetics Pharmaceuticals by 24.2% in the 3rd quarter. Farallon Capital Management LLC now owns 5,770,098 shares of the company’s stock worth $240,325,000 after acquiring an additional 1,124,000 shares in the last quarter. Paradigm Biocapital Advisors LP raised its position in shares of Crinetics Pharmaceuticals by 8.8% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 2,550,774 shares of the company’s stock worth $106,240,000 after acquiring an additional 207,221 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Crinetics Pharmaceuticals by 6.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,560,300 shares of the company’s stock worth $72,632,000 after acquiring an additional 95,038 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Crinetics Pharmaceuticals by 279.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,258,722 shares of the company’s stock worth $52,426,000 after acquiring an additional 926,765 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

CRNX has been the subject of several research reports. Citizens Jmp decreased their target price on Crinetics Pharmaceuticals from $97.00 to $95.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. Lifesci Capital raised Crinetics Pharmaceuticals to a “strong-buy” rating in a research report on Friday, February 13th. Oppenheimer decreased their target price on Crinetics Pharmaceuticals from $87.00 to $84.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Monday, April 20th. Finally, Wall Street Zen upgraded Crinetics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.13.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 10,612 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $37.37, for a total transaction of $396,570.44. Following the sale, the insider directly owned 137,101 shares in the company, valued at approximately $5,123,464.37. This trade represents a 7.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard Scott Struthers sold 21,981 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $37.37, for a total value of $821,429.97. Following the sale, the chief executive officer owned 404,778 shares in the company, valued at approximately $15,126,553.86. This represents a 5.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 132,667 shares of company stock valued at $5,184,161. 3.80% of the stock is currently owned by company insiders.

Crinetics Pharmaceuticals Stock Up 1.7%

Crinetics Pharmaceuticals stock opened at $33.48 on Tuesday. The company has a market capitalization of $3.53 billion, a P/E ratio of -6.53 and a beta of 0.24. The stock’s 50 day moving average is $37.40 and its 200 day moving average is $42.87. Crinetics Pharmaceuticals, Inc. has a twelve month low of $25.83 and a twelve month high of $57.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, May 7th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 2,747.18% and a negative return on equity of 43.96%. The business had revenue of $10.73 million for the quarter, compared to analysts’ expectations of $8.51 million. During the same quarter in the prior year, the business posted ($1.04) earnings per share. The business’s revenue for the quarter was up 2873.4% on a year-over-year basis. As a group, equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -4.85 EPS for the current year.

Crinetics Pharmaceuticals Company 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.