Quantinno Capital Management LP Boosts Holdings in Crinetics Pharmaceuticals, Inc. $CRNX

Quantinno Capital Management LP lifted its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 280.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,734 shares of the company’s stock after purchasing an additional 24,878 shares during the quarter. Quantinno Capital Management LP’s holdings in Crinetics Pharmaceuticals were worth $1,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CRNX. Wellington Management Group LLP grew its position in Crinetics Pharmaceuticals by 44.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,381,991 shares of the company’s stock valued at $349,110,000 after purchasing an additional 2,574,683 shares during the last quarter. Baker BROS. Advisors LP raised its holdings in Crinetics Pharmaceuticals by 488.9% in the fourth quarter. Baker BROS. Advisors LP now owns 1,648,869 shares of the company’s stock worth $76,755,000 after buying an additional 1,368,869 shares during the last quarter. Farallon Capital Management LLC raised its holdings in Crinetics Pharmaceuticals by 20.2% in the fourth quarter. Farallon Capital Management LLC now owns 6,933,098 shares of the company’s stock worth $322,736,000 after buying an additional 1,163,000 shares during the last quarter. GW&K Investment Management LLC raised its holdings in Crinetics Pharmaceuticals by 73.6% in the fourth quarter. GW&K Investment Management LLC now owns 1,476,325 shares of the company’s stock worth $68,723,000 after buying an additional 625,779 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Crinetics Pharmaceuticals by 15.1% in the fourth quarter. Janus Henderson Group PLC now owns 4,440,691 shares of the company’s stock worth $206,604,000 after buying an additional 581,900 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CRNX. Oppenheimer reiterated a “market perform” rating on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 7th. Citizens Jmp lowered shares of Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. JonesTrading cut Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and set a $85.00 price objective on the stock. in a research report on Tuesday, July 7th. UBS Group reiterated a “neutral” rating and set a $85.00 target price (up from $55.00) on shares of Crinetics Pharmaceuticals in a research note on Tuesday, July 28th. Finally, Robert W. Baird lifted their target price on Crinetics Pharmaceuticals from $62.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $81.00.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX opened at $84.70 on Friday. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $28.73 and a fifty-two week high of $84.71. The business has a 50-day simple moving average of $63.99 and a two-hundred day simple moving average of $48.27. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of -16.81 and a beta of 0.12.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Monday, August 3rd. The company reported ($1.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.18) by $0.04. The business had revenue of $25.12 million for the quarter, compared to analysts’ expectations of $14.84 million. Crinetics Pharmaceuticals had a negative net margin of 1,189.88% and a negative return on equity of 44.22%. The business’s revenue for the quarter was up 2336.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.23) EPS. As a group, research analysts predict that Crinetics Pharmaceuticals, Inc. will post -4.83 earnings per share for the current year.

Insider Activity at Crinetics Pharmaceuticals

In other news, Director Coelho Rogerio Vivaldi sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the transaction, the director directly owned 19,225 shares of the company’s stock, valued at $769,000. The trade was a 13.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Okey sold 6,900 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $35.67, for a total transaction of $246,123.00. Following the transaction, the director owned 6,400 shares in the company, valued at approximately $228,288. This trade represents a 51.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is owned by insiders.

Crinetics Pharmaceuticals Company Profile

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.