Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,218 shares of the company’s stock after purchasing an additional 2,343 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Crinetics Pharmaceuticals worth $1,395,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. raised its stake in shares of Crinetics Pharmaceuticals by 98.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company’s stock valued at $42,000 after purchasing an additional 695 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Crinetics Pharmaceuticals by 109.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,927 shares of the company’s stock worth $31,000 after acquiring an additional 1,009 shares during the period. Osaic Holdings Inc. raised its stake in Crinetics Pharmaceuticals by 382.4% during the second quarter. Osaic Holdings Inc. now owns 2,412 shares of the company’s stock worth $43,000 after acquiring an additional 1,912 shares during the period. HighMark Wealth Management LLC acquired a new stake in Crinetics Pharmaceuticals during the fourth quarter worth about $151,000. Finally, Royal Bank of Canada raised its stake in Crinetics Pharmaceuticals by 64.8% during the second quarter. Royal Bank of Canada now owns 5,595 shares of the company’s stock worth $100,000 after acquiring an additional 2,201 shares during the period. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CRNX shares. JMP Securities reiterated a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Thursday, March 28th. Jonestrading upped their target price on shares of Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Oppenheimer upped their target price on shares of Crinetics Pharmaceuticals from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 20th. Citigroup assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Wednesday, March 6th. They issued a “buy” rating and a $68.00 target price for the company. Finally, Cantor Fitzgerald upped their target price on shares of Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.17.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $44.47, for a total value of $639,256.25. Following the transaction, 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 is available at this link. In related news, insider Stephen F. Betz sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $37.26, for a total value of $111,780.00. Following the completion of the transaction, the insider now owns 73,298 shares of the company’s stock, valued at approximately $2,731,083.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dana Pizzuti sold 14,375 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $44.47, for a total transaction of $639,256.25. Following the completion of the transaction, the insider now directly owns 27,786 shares of the company’s stock, valued at approximately $1,235,643.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 190,216 shares of company stock worth $8,621,177. 7.00% of the stock is owned by insiders.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX opened at $42.97 on Monday. Crinetics Pharmaceuticals, Inc. has a 12 month low of $15.76 and a 12 month high of $49.58. The firm has a market capitalization of $2.99 billion, a PE ratio of -11.61 and a beta of 0.63. The company’s 50 day simple moving average is $42.42 and its 200 day simple moving average is $36.24.

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

Crinetics Pharmaceuticals Company 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.