Rice Hall James & Associates LLC Takes $7.25 Million Position in Crinetics Pharmaceuticals, Inc. $CRNX

Rice Hall James & Associates LLC bought a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) during the 3rd quarter, Holdings Channel reports. The fund bought 174,077 shares of the company’s stock, valued at approximately $7,250,000.

Other institutional investors have also made changes to their positions in the company. Exome Asset Management LLC bought a new position in shares of Crinetics Pharmaceuticals during the first quarter worth $1,720,000. Rhumbline Advisers raised its stake in Crinetics Pharmaceuticals by 6.3% during the 1st quarter. Rhumbline Advisers now owns 131,950 shares of the company’s stock worth $4,426,000 after buying an additional 7,872 shares during the period. Intech Investment Management LLC lifted its holdings in Crinetics Pharmaceuticals by 32.1% during the first quarter. Intech Investment Management LLC now owns 56,950 shares of the company’s stock worth $1,910,000 after acquiring an additional 13,845 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in Crinetics Pharmaceuticals by 20.7% in the second quarter. Segall Bryant & Hamill LLC now owns 176,517 shares of the company’s stock valued at $5,077,000 after acquiring an additional 30,243 shares during the period. Finally, Walleye Capital LLC grew its stake in Crinetics Pharmaceuticals by 53.5% in the second quarter. Walleye Capital LLC now owns 190,373 shares of the company’s stock valued at $5,475,000 after acquiring an additional 66,391 shares during the period. 98.51% of the stock is owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ:CRNX opened at $47.96 on Friday. The company’s 50-day moving average price is $44.84 and its two-hundred day moving average price is $37.30. Crinetics Pharmaceuticals, Inc. has a one year low of $24.10 and a one year high of $53.66. The stock has a market capitalization of $4.55 billion, a PE ratio of -10.59 and a beta of 0.20.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.11). The firm had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.39 million. During the same period last year, the firm earned ($0.96) EPS. On average, analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $42.66, for a total transaction of $213,300.00. Following the sale, the insider owned 66,270 shares in the company, valued at $2,827,078.20. This represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 4.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on CRNX shares. JMP Securities raised their target price on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the stock a “market outperform” rating in a report on Friday, September 26th. Citizens Jmp dropped their price objective on shares of Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating on the stock in a report on Friday, November 7th. Leerink Partners boosted their price objective on shares of Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Morgan Stanley upped their target price on shares of Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, September 29th. Finally, Robert W. Baird upped their price objective on Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, September 26th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.55.

Crinetics Pharmaceuticals 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.