Harvest Fund Management Co. Ltd Takes $66,000 Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Harvest Fund Management Co. Ltd acquired a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the 4th quarter, Holdings Channel reports. The fund acquired 1,299 shares of the company’s stock, valued at approximately $66,000.

A number of other hedge funds have also modified their holdings of CRNX. FMR LLC lifted its stake in Crinetics Pharmaceuticals by 8.8% in the 3rd quarter. FMR LLC now owns 4,455,770 shares of the company’s stock valued at $227,690,000 after acquiring an additional 358,975 shares in the last quarter. State Street Corp raised its holdings in shares of Crinetics Pharmaceuticals by 0.9% in the third quarter. State Street Corp now owns 2,838,484 shares of the company’s stock valued at $145,047,000 after purchasing an additional 25,561 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Crinetics Pharmaceuticals by 10.1% in the third quarter. Geode Capital Management LLC now owns 1,848,133 shares of the company’s stock worth $94,458,000 after purchasing an additional 169,746 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Crinetics Pharmaceuticals by 61.4% during the third quarter. Franklin Resources Inc. now owns 1,390,110 shares of the company’s stock worth $73,815,000 after purchasing an additional 528,688 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Crinetics Pharmaceuticals by 15.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 759,126 shares of the company’s stock valued at $38,814,000 after purchasing an additional 103,708 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors.

Crinetics Pharmaceuticals Trading Up 0.3 %

CRNX opened at $34.42 on Monday. The stock’s fifty day simple moving average is $36.22 and its 200 day simple moving average is $48.07. Crinetics Pharmaceuticals, Inc. has a 1-year low of $31.84 and a 1-year high of $62.53. The stock has a market cap of $3.20 billion, a PE ratio of -9.23 and a beta of 0.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.04. Equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the transaction, the chief executive officer now directly owns 329,147 shares of the company’s stock, valued at $11,256,827.40. This represents a 5.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Dana Pizzuti sold 2,515 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $86,013.00. Following the transaction, the insider now owns 72,233 shares in the company, valued at $2,470,368.60. The trade was a 3.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,015 shares of company stock valued at $1,119,263 in the last three months. 6.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRNX. 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. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating for the company. JMP Securities reaffirmed a “market outperform” rating and set a $87.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Jefferies Financial Group raised Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, January 22nd. Finally, HC Wainwright restated a “buy” rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $74.30.

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.