Universal Beteiligungs und Servicegesellschaft mbH Makes New $17.12 Million Investment in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 334,783 shares of the company's stock, valued at approximately $17,117,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.36% of Crinetics Pharmaceuticals at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Crinetics Pharmaceuticals by 100.4% during the fourth quarter. FMR LLC now owns 8,928,086 shares of the company's stock worth $456,493,000 after buying an additional 4,472,316 shares during the last quarter. Farallon Capital Management LLC grew its holdings in Crinetics Pharmaceuticals by 250.7% during the 4th quarter. Farallon Capital Management LLC now owns 4,075,098 shares of the company's stock worth $208,360,000 after acquiring an additional 2,913,098 shares during the period. Vanguard Group Inc. raised its position in shares of Crinetics Pharmaceuticals by 44.6% during the 4th quarter. Vanguard Group Inc. now owns 9,089,391 shares of the company's stock valued at $464,741,000 after acquiring an additional 2,801,736 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Crinetics Pharmaceuticals by 55.9% in the 4th quarter. Wellington Management Group LLP now owns 6,950,567 shares of the company's stock valued at $355,382,000 after purchasing an additional 2,490,876 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of Crinetics Pharmaceuticals by 21.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,788,939 shares of the company's stock worth $142,598,000 after purchasing an additional 488,296 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. 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. Stifel Nicolaus began coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price target on the stock. Finally, Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 4th. They set a "peer perform" rating on the stock. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $74.56.

Insiders Place Their Bets

In other news, CEO Richard Scott Struthers sold 17,338 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $592,959.60. Following the sale, the chief executive officer now directly owns 329,147 shares in the company, valued at $11,256,827.40. The trade was a 5.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dana Pizzuti sold 2,515 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $86,013.00. Following the completion of the transaction, the insider now directly owns 72,233 shares in the company, valued at $2,470,368.60. This trade represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,015 shares of company stock valued at $923,913. Corporate insiders own 4.60% of the company's stock.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX traded up $0.07 during trading hours on Friday, hitting $30.59. The stock had a trading volume of 741,503 shares, compared to its average volume of 858,499. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $62.53. The firm has a market capitalization of $2.86 billion, a P/E ratio of -8.20 and a beta of 0.31. The firm has a 50 day simple moving average of $30.80 and a 200-day simple moving average of $39.60.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($1.04) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.05). The firm had revenue of $0.36 million for the quarter, compared to the consensus estimate of $0.10 million. During the same period in the previous year, the firm posted ($0.93) earnings per share. Crinetics Pharmaceuticals's quarterly revenue was down 43.6% compared to the same quarter last year. Equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

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.