Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Stock Holdings Lifted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lifted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 72,141.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,281 shares of the company’s stock after acquiring an additional 12,264 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Crinetics Pharmaceuticals were worth $231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp raised its holdings in shares of Crinetics Pharmaceuticals by 1.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 292,155 shares of the company’s stock valued at $5,507,000 after purchasing an additional 5,578 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Crinetics Pharmaceuticals by 30.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 195,921 shares of the company’s stock worth $3,694,000 after acquiring an additional 45,169 shares during the period. BlackRock Inc. boosted its stake in shares of Crinetics Pharmaceuticals by 19.7% in the 2nd quarter. BlackRock Inc. now owns 2,593,386 shares of the company’s stock valued at $48,885,000 after purchasing an additional 426,878 shares in the last quarter. Opaleye Management Inc. grew its stake in Crinetics Pharmaceuticals by 6.6% during the second quarter. Opaleye Management Inc. now owns 200,500 shares of the company’s stock worth $3,779,000 after buying an additional 12,500 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Crinetics Pharmaceuticals by 3.7% in the second quarter. FMR LLC now owns 5,118,948 shares of the company’s stock valued at $96,492,000 after buying an additional 180,632 shares in the last quarter. Institutional investors and hedge funds own 85.05% of the company’s stock.

NASDAQ:CRNX opened at $24.40 on Monday. The company has a market capitalization of $1.16 billion, a PE ratio of -8.78 and a beta of 1.37. Crinetics Pharmaceuticals, Inc. has a 1-year low of $12.60 and a 1-year high of $28.78. The firm has a fifty day moving average price of $23.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Friday, November 5th. The company reported ($0.73) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.01). Analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -2.71 EPS for the current fiscal year.

Several equities analysts have recently issued reports on the stock. Jonestrading reissued a “buy” rating and issued a $45.00 price target on shares of Crinetics Pharmaceuticals in a report on Thursday, September 16th. HC Wainwright boosted their price objective on shares of Crinetics Pharmaceuticals from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, November 8th. Evercore ISI began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, November 23rd. They issued an “outperform” rating for the company. Finally, Zacks Investment Research raised shares of Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Wednesday, November 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $34.20.

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 30,000 shares of the company’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $25.00, for a total value of $750,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Perceptive Advisors Llc bought 1,200,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, October 25th. The shares were bought at an average cost of $19.80 per share, with a total value of $23,760,000.00. The disclosure for this purchase can be found here. In the last three months, insiders have sold 71,210 shares of company stock worth $1,830,004. Company insiders own 7.40% of the company’s stock.

Crinetics Pharmaceuticals Profile

Crinetics Pharmaceuticals, Inc operates as a clinical stage pharmaceutical company focused on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. Its product candidate, CRN00808, is an oral nonpeptide somatostatin agonist for the treatment of acromegaly.

Read More: Index Funds

Want to see what other hedge funds are holding CRNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX).

Institutional Ownership by Quarter for Crinetics Pharmaceuticals (NASDAQ:CRNX)