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

Fiera Capital Corp boosted its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 32.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 578,455 shares of the company’s stock after buying an additional 143,030 shares during the period. Fiera Capital Corp owned approximately 0.57% of Crinetics Pharmaceuticals worth $26,927,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CRNX. Wellington Management Group LLP boosted its stake in Crinetics Pharmaceuticals by 44.3% during the third quarter. Wellington Management Group LLP now owns 8,381,991 shares of the company’s stock valued at $349,110,000 after buying an additional 2,574,683 shares during the period. Farallon Capital Management LLC boosted its stake in Crinetics Pharmaceuticals by 24.2% during the third quarter. Farallon Capital Management LLC now owns 5,770,098 shares of the company’s stock valued at $240,325,000 after buying an additional 1,124,000 shares during the period. JPMorgan Chase & Co. boosted its stake in Crinetics Pharmaceuticals by 279.2% during the third quarter. JPMorgan Chase & Co. now owns 1,258,722 shares of the company’s stock valued at $52,426,000 after buying an additional 926,765 shares during the period. UBS Group AG boosted its stake in Crinetics Pharmaceuticals by 122.7% during 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. Finally, Ameriprise Financial Inc. boosted its stake in Crinetics Pharmaceuticals by 157.7% during the third quarter. Ameriprise Financial Inc. now owns 614,816 shares of the company’s stock valued at $25,607,000 after buying an additional 376,206 shares during the period. Institutional investors own 98.51% of the company’s stock.

Insider Buying and Selling

In other news, insider Stephen F. Betz sold 10,612 shares of Crinetics Pharmaceuticals stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $37.37, for a total value of $396,570.44. Following the transaction, the insider owned 137,101 shares in the company, valued at approximately $5,123,464.37. The trade was a 7.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Scott Struthers sold 21,981 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $37.37, for a total value of $821,429.97. Following the completion of the sale, the chief executive officer directly owned 404,778 shares of the company’s stock, valued at approximately $15,126,553.86. This trade represents a 5.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 132,667 shares of company stock worth $5,184,161 in the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Crinetics Pharmaceuticals Stock Up 1.7%

Shares of CRNX stock opened at $33.48 on Tuesday. The business has a 50-day moving average price of $37.40 and a two-hundred day moving average price of $42.87. Crinetics Pharmaceuticals, Inc. has a 12-month low of $25.83 and a 12-month high of $57.99. The firm has a market cap of $3.53 billion, a P/E ratio of -6.53 and a beta of 0.24.

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

Analysts Set New Price Targets

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

About Crinetics Pharmaceuticals

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.