Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stake Reduced by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 10.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 491,381 shares of the company’s stock after selling 54,853 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.61% of Crinetics Pharmaceuticals worth $25,110,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Comerica Bank acquired a new position in shares of Crinetics Pharmaceuticals in the first quarter worth about $33,000. Quest Partners LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at approximately $42,000. Values First Advisors Inc. acquired a new position in Crinetics Pharmaceuticals in the 3rd quarter worth approximately $84,000. Allspring Global Investments Holdings LLC purchased a new position in Crinetics Pharmaceuticals during the 3rd quarter worth approximately $91,000. Finally, KBC Group NV raised its stake in Crinetics Pharmaceuticals by 22.8% during the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after purchasing an additional 407 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRNX has been the topic of a number of research analyst reports. Citigroup lifted their price target on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 target price on shares of Crinetics Pharmaceuticals in a research note on Monday, September 16th. JMP Securities reiterated a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. Oppenheimer reaffirmed an “outperform” rating and set a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. Finally, HC Wainwright upped their price objective on shares of Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.18.

Insider Activity at Crinetics Pharmaceuticals

In related news, CFO Marc Wilson sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $51.11, for a total value of $1,277,750.00. Following the transaction, the chief financial officer now directly owns 111,092 shares in the company, valued at approximately $5,677,912.12. This trade represents a 18.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Dana Pizzuti sold 14,375 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $54.63, for a total transaction of $785,306.25. Following the transaction, the insider now directly owns 28,507 shares of the company’s stock, valued at approximately $1,557,337.41. This represents a 33.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,410 shares of company stock valued at $2,275,929. Corporate insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Trading Down 1.7 %

Crinetics Pharmaceuticals stock opened at $56.06 on Friday. Crinetics Pharmaceuticals, Inc. has a 1-year low of $30.50 and a 1-year high of $62.53. The firm’s fifty day simple moving average is $55.32 and its 200-day simple moving average is $51.50. The company has a market capitalization of $5.20 billion, a P/E ratio of -15.03 and a beta of 0.62.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter in the prior year, the company posted ($1.01) earnings per share. On average, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current 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.