Biotech Fund Sells $12.3 Million in Crinetics Stock

MPM BioImpact has completely divested its stake in Crinetics Pharmaceuticals, as disclosed in a November 14 SEC filing. The fund sold 428,975 shares of Crinetics (NASDAQ:CRNX) during the third quarter, reducing its assets by approximately $12.3 million, which represented 2.1% of assets under management in the prior quarter. This transaction reflects a significant strategic shift for the investment fund. The filing highlights the fund’s ongoing adjustments to its portfolio.

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