4,930 Shares in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Bought by Xponance Inc.

Xponance Inc. bought a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,930 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRNX. Price T Rowe Associates Inc. MD increased its stake in Crinetics Pharmaceuticals by 27.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company’s stock valued at $178,966,000 after acquiring an additional 814,360 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Crinetics Pharmaceuticals by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company’s stock worth $167,349,000 after buying an additional 72,624 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Crinetics Pharmaceuticals by 10.6% during the 1st quarter. Jennison Associates LLC now owns 2,817,854 shares of the company’s stock worth $131,904,000 after buying an additional 270,171 shares during the last quarter. First Light Asset Management LLC boosted its stake in Crinetics Pharmaceuticals by 25.5% in the fourth quarter. First Light Asset Management LLC now owns 1,987,772 shares of the company’s stock valued at $70,725,000 after buying an additional 404,443 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Crinetics Pharmaceuticals by 264.1% in the first quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company’s stock valued at $92,526,000 after acquiring an additional 1,434,909 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on CRNX shares. Piper Sandler reissued an “overweight” rating and issued a $97.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 2nd. HC Wainwright raised their target price on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $90.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. Oppenheimer reiterated an “outperform” rating and issued a $73.00 price target (down from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. Finally, 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 research report on Tuesday, July 9th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.55.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, insider James Hassard sold 15,000 shares of the company’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $44.08, for a total transaction of $661,200.00. Following the sale, the insider now owns 29,259 shares of the company’s stock, valued at $1,289,736.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $48.55, for a total value of $145,650.00. Following the transaction, the insider now directly owns 78,611 shares of the company’s stock, valued at $3,816,564.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James Hassard sold 15,000 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $44.08, for a total value of $661,200.00. Following the transaction, the insider now owns 29,259 shares in the company, valued at $1,289,736.72. The disclosure for this sale can be found here. Insiders sold 121,091 shares of company stock valued at $6,344,500 over the last quarter. Insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Trading Up 4.0 %

Shares of CRNX stock opened at $54.02 on Thursday. Crinetics Pharmaceuticals, Inc. has a 1-year low of $25.35 and a 1-year high of $55.78. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of -14.29 and a beta of 0.63. The stock has a 50-day moving average of $51.98 and a 200-day moving average of $48.55.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its 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 business had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.47 million. The business’s revenue for the quarter was down 59.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.94) earnings per share. Sell-side analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.72 earnings per share for the current 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.