18,117 Shares in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ bought a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 18,117 shares of the company’s stock, valued at approximately $918,000.

Several other institutional investors have also recently bought and sold shares of CRNX. Venturi Wealth Management LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at approximately $41,000. KBC Group NV grew its position in Crinetics Pharmaceuticals by 22.8% in the third quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after purchasing an additional 407 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Crinetics Pharmaceuticals by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock valued at $143,000 after buying an additional 1,008 shares during the last quarter. Commerce Bank bought a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth about $212,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter worth about $215,000. Institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock opened at $35.20 on Tuesday. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -9.44 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 52 week low of $31.84 and a 52 week high of $62.53. The company has a 50-day simple moving average of $37.21 and a 200 day simple moving average of $48.59.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Thursday, February 27th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.04. Sell-side analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analyst Weigh In

CRNX has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, January 22nd. Wolfe Research began coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 4th. They issued a “peer perform” rating for the company. JMP Securities restated a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Finally, TD Cowen assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.64.

Insiders Place Their Bets

In related news, insider Dana Pizzuti sold 5,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.07, for a total value of $195,350.00. Following the transaction, the insider now directly owns 31,748 shares in the company, valued at approximately $1,240,394.36. This represents a 13.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.00% of the company’s stock.

About Crinetics Pharmaceuticals

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.