SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 9.6% Stake in Crinetics Pharmaceuticals
Beneficial Ownership Disclosure
FMR LLC and its Chief Executive Officer, Abigail P. Johnson, have reported a beneficial ownership of 9.6% of Crinetics Pharmaceuticals Inc.'s common stock as of December 31, 2024.
Summary
- FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 8,904,085.92 shares of Crinetics Pharmaceuticals Inc. common stock.
- This represents 9.6% of the total outstanding common stock of Crinetics Pharmaceuticals Inc.
- The filing is an Amendment No. 1 to Schedule 13G, indicating an update to a previously reported stake.
- FMR LLC, a parent holding company, holds sole voting power over 8,901,329 shares and sole dispositive power over 8,904,085.92 shares.
- Abigail P. Johnson, as an individual, shares dispositive power over 8,904,085.92 shares, reflecting her control relationship with FMR LLC.
- The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing the control of Crinetics Pharmaceuticals Inc.
- Several FMR LLC subsidiaries, including Fidelity Management & Research Company LLC, are identified as entities that beneficially own shares, with Fidelity Management & Research Company LLC owning 5% or greater.
Sentiment
Score: 5
Explanation: The document is a factual, regulatory filing disclosing beneficial ownership and does not contain information that would inherently indicate a positive or negative sentiment towards the issuer beyond the mere existence of a significant institutional stake.
Future Outlook
NA
Industry Context
This filing is a routine disclosure of a significant ownership stake by a major asset manager in a pharmaceutical company. It reflects FMR LLC's investment strategy within the healthcare or biotechnology sector.
Stakeholder Impact
- Provides transparency to existing and potential shareholders regarding a significant institutional ownership stake.
Key Dates
| Date | Description |
|---|---|
| 2023-01-03 | Effective date of Power of Attorney for FMR LLC. |
| 2023-01-10 | Date of Schedule 13G filing by FMR LLC where Power of Attorney (accession number -23-000003) was incorporated by reference. |
| 2023-01-26 | Effective date of Power of Attorney for Abigail P. Johnson. |
| 2023-01-31 | Date of Schedule 13G filing by FMR LLC where Abigail P. Johnson's Power of Attorney (accession number -23-000038) was incorporated by reference. |
| 2024-12-31 | Date of event which requires filing of this statement (reporting date for ownership). |
| 2025-02-06 | Date of filing of this Schedule 13G Amendment No. 1. |
Keywords
Crinetics Pharmaceuticals Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, Pharmaceuticals, Biotechnology
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