Crinetics Pharmaceuticals, Inc. $CRNX Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 57.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 30,537 shares of the company’s stock after selling 41,812 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Crinetics Pharmaceuticals were worth $1,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Crinetics Pharmaceuticals by 11.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,311 shares of the company’s stock valued at $1,995,000 after acquiring an additional 6,148 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Crinetics Pharmaceuticals by 6.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,581 shares of the company’s stock valued at $11,658,000 after purchasing an additional 22,305 shares during the period. Strs Ohio purchased a new stake in shares of Crinetics Pharmaceuticals in the first quarter valued at $124,000. Invesco Ltd. increased its stake in Crinetics Pharmaceuticals by 11.7% in the second quarter. Invesco Ltd. now owns 78,140 shares of the company’s stock valued at $2,247,000 after purchasing an additional 8,181 shares during the last quarter. Finally, Sei Investments Co. lifted its position in Crinetics Pharmaceuticals by 20.6% during the second quarter. Sei Investments Co. now owns 60,180 shares of the company’s stock worth $1,731,000 after buying an additional 10,269 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Price Performance

NASDAQ:CRNX opened at $37.48 on Monday. The business’s 50-day moving average is $38.41 and its two-hundred day moving average is $43.89. The firm has a market capitalization of $3.95 billion, a PE ratio of -7.31 and a beta of 0.28. Crinetics Pharmaceuticals, Inc. has a 12 month low of $25.83 and a 12 month high of $57.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Thursday, May 7th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.01). The company had revenue of $10.73 million during the quarter, compared to analyst estimates of $8.51 million. Crinetics Pharmaceuticals had a negative net margin of 2,747.18% and a negative return on equity of 43.96%. Crinetics Pharmaceuticals’s quarterly revenue was up 2873.4% compared to the same quarter last year. During the same quarter last year, the business posted ($1.04) EPS. Equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -4.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on CRNX shares. Lifesci Capital upgraded shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a report on Friday, February 13th. Wall Street Zen lowered Crinetics Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Monday, April 20th. Citizens Jmp lowered their price target on Crinetics Pharmaceuticals from $97.00 to $95.00 and set a “market outperform” rating for the company in a research report on Friday. Finally, The Goldman Sachs Group raised Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.50.

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Stephen F. Betz sold 10,612 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $37.37, for a total value of $396,570.44. Following the completion of the transaction, the insider directly owned 137,101 shares of the company’s stock, valued at $5,123,464.37. This represents a 7.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Coelho Rogerio Vivaldi sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $36.15, for a total value of $180,750.00. Following the sale, the director owned 16,300 shares of the company’s stock, valued at $589,245. This represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 142,380 shares of company stock valued at $5,569,475. 3.80% of the stock is currently owned by corporate insiders.

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.