7,107 Shares in Crinetics Pharmaceuticals, Inc. $CRNX Bought by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC purchased a new position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 7,107 shares of the company’s stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Parkman Healthcare Partners LLC increased its holdings in shares of Crinetics Pharmaceuticals by 0.4% in the third quarter. Parkman Healthcare Partners LLC now owns 73,725 shares of the company’s stock worth $3,071,000 after buying an additional 313 shares during the period. Parallel Advisors LLC boosted its holdings in Crinetics Pharmaceuticals by 34.6% during the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock valued at $57,000 after acquiring an additional 315 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Crinetics Pharmaceuticals by 107.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after acquiring an additional 331 shares during the period. Brooklyn Investment Group grew its position in Crinetics Pharmaceuticals by 6.3% during the 4th quarter. Brooklyn Investment Group now owns 5,890 shares of the company’s stock worth $280,000 after acquiring an additional 348 shares during the last quarter. Finally, Commerce Bank grew its position in Crinetics Pharmaceuticals by 5.9% during the 4th quarter. Commerce Bank now owns 8,019 shares of the company’s stock worth $373,000 after acquiring an additional 444 shares during the last quarter. 98.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CRNX has been the subject of a number of analyst reports. HC Wainwright lowered shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and increased their target price for the stock from $81.00 to $85.00 in a report on Tuesday, July 7th. Oppenheimer restated a “market perform” rating on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 7th. UBS Group reaffirmed a “neutral” rating and set a $85.00 price target (up from $55.00) on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 28th. Robert W. Baird increased their price objective on Crinetics Pharmaceuticals from $62.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Finally, Evercore cut Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $81.00.

Crinetics Pharmaceuticals Stock Performance

Shares of Crinetics Pharmaceuticals stock opened at $84.84 on Monday. The company’s fifty day simple moving average is $73.98 and its two-hundred day simple moving average is $50.76. The company has a market cap of $9.00 billion, a P/E ratio of -16.83 and a beta of 0.12. Crinetics Pharmaceuticals, Inc. has a 12-month low of $30.25 and a 12-month high of $84.89.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.18) by $0.04. Crinetics Pharmaceuticals had a negative net margin of 1,189.88% and a negative return on equity of 44.22%. The business had revenue of $25.12 million during the quarter, compared to analyst estimates of $14.84 million. During the same period in the prior year, the business earned ($1.23) EPS. The company’s revenue for the quarter was up 2336.9% on a year-over-year basis. Analysts predict that Crinetics Pharmaceuticals, Inc. will post -4.83 EPS for the current fiscal year.

Insider Activity

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

About Crinetics Pharmaceuticals

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.