AQR Capital Management LLC Has $319,000 Stock Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

AQR Capital Management LLC increased its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 3.3% in the second quarter, HoldingsChannel reports. The firm owned 7,126 shares of the company’s stock after buying an additional 227 shares during the period. AQR Capital Management LLC’s holdings in Crinetics Pharmaceuticals were worth $319,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Affinity Asset Advisors LLC grew its holdings in Crinetics Pharmaceuticals by 9.6% during the second quarter. Affinity Asset Advisors LLC now owns 515,000 shares of the company’s stock worth $23,067,000 after purchasing an additional 45,000 shares during the period. Marshall Wace LLP bought a new position in Crinetics Pharmaceuticals during the second quarter worth about $6,325,000. Farallon Capital Management LLC grew its holdings in Crinetics Pharmaceuticals by 9,840.0% during the second quarter. Farallon Capital Management LLC now owns 497,000 shares of the company’s stock worth $22,261,000 after purchasing an additional 492,000 shares during the period. Xponance Inc. bought a new position in Crinetics Pharmaceuticals during the second quarter worth about $221,000. Finally, Integral Health Asset Management LLC grew its holdings in Crinetics Pharmaceuticals by 23.1% during the second quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock worth $17,916,000 after purchasing an additional 75,000 shares during the period. Institutional investors own 98.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CRNX shares. Oppenheimer reiterated an “outperform” rating and set a $73.00 price target (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. JMP Securities restated a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a report on Friday, September 27th. JPMorgan Chase & Co. boosted their price objective on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Piper Sandler restated an “overweight” rating and set a $97.00 price objective on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.55.

Crinetics Pharmaceuticals Trading Up 2.2 %

NASDAQ CRNX opened at $58.86 on Thursday. Crinetics Pharmaceuticals, Inc. has a 1-year low of $25.75 and a 1-year high of $59.39. The company has a 50 day moving average of $52.33 and a 200-day moving average of $49.23. The company has a market cap of $4.64 billion, a price-to-earnings ratio of -15.57 and a beta of 0.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.08). The firm had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.47 million. During the same period last year, the firm posted ($0.94) EPS. The company’s quarterly revenue was down 59.6% compared to the same quarter last year. On average, equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 19,056 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.88, for a total transaction of $1,026,737.28. Following the completion of the transaction, the chief financial officer now directly owns 111,092 shares in the company, valued at $5,985,636.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 19,056 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $53.88, for a total transaction of $1,026,737.28. Following the completion of the transaction, the chief financial officer now directly owns 111,092 shares in the company, valued at $5,985,636.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen F. Betz sold 1,035 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total transaction of $53,302.50. Following the transaction, the insider now owns 68,576 shares of the company’s stock, valued at approximately $3,531,664. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 65,466 shares of company stock worth $3,462,956 over the last three months. Corporate insiders own 6.00% of the company’s stock.

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.