Fmr LLC Buys 220,701 Shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX)

FMR LLC grew its stake in shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,938,539 shares of the company’s stock after buying an additional 220,701 shares during the period. FMR LLC owned 12.22% of Crinetics Pharmaceuticals worth $88,126,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RA Capital Management LLC boosted its position in Crinetics Pharmaceuticals by 10.2% in the fourth quarter. RA Capital Management LLC now owns 1,875,209 shares of the company’s stock worth $56,238,000 after purchasing an additional 174,192 shares during the last quarter. BlackRock Inc. boosted its position in Crinetics Pharmaceuticals by 65.3% in the fourth quarter. BlackRock Inc. now owns 693,172 shares of the company’s stock worth $20,789,000 after purchasing an additional 273,886 shares during the last quarter. Vanguard Group Inc. purchased a new position in Crinetics Pharmaceuticals in the third quarter worth about $7,103,000. Vanguard Group Inc purchased a new position in Crinetics Pharmaceuticals in the third quarter worth about $7,103,000. Finally, Emory University purchased a new position in Crinetics Pharmaceuticals in the fourth quarter worth about $2,577,000. Hedge funds and other institutional investors own 69.72% of the company’s stock.

Shares of CRNX stock traded up $0.17 during trading hours on Friday, reaching $26.41. 23,006 shares of the company traded hands, compared to its average volume of 57,615. The stock has a market cap of $639.84 million and a P/E ratio of -11.84. Crinetics Pharmaceuticals Inc has a 12-month low of $19.23 and a 12-month high of $42.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Wednesday, March 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. The company had revenue of $0.78 million for the quarter, compared to the consensus estimate of $0.32 million. Crinetics Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 1,117.52%. As a group, equities analysts forecast that Crinetics Pharmaceuticals Inc will post -1.89 earnings per share for the current year.

In other Crinetics Pharmaceuticals news, major shareholder Ventures Iv L.P. 5Am sold 154,839 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $24.25, for a total value of $3,754,845.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Vivo Capital Fund Viii, L.P. sold 417,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $22.25, for a total value of $9,278,250.00. The disclosure for this sale can be found here.

Several research analysts have issued reports on CRNX shares. HC Wainwright reissued a “buy” rating on shares of Crinetics Pharmaceuticals in a research report on Tuesday, April 16th. Cantor Fitzgerald initiated coverage on Crinetics Pharmaceuticals in a research report on Monday, March 11th. They set an “overweight” rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $37.20.

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Crinetics Pharmaceuticals Profile

Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is CRN00808, an oral selective nonpeptide somatostatin receptor type 2 biased agonist, which is in Phase I clinical trials used for the treatment of acromegaly.

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Institutional Ownership by Quarter for Crinetics Pharmaceuticals (NASDAQ:CRNX)

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