Crinetics Pharmaceuticals, Inc. $CRNX Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,242,631 shares of the company’s stock after selling 36,199 shares during the quarter. Geode Capital Management LLC’s holdings in Crinetics Pharmaceuticals were worth $104,411,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. First Light Asset Management LLC grew its position in Crinetics Pharmaceuticals by 9.0% in the 3rd quarter. First Light Asset Management LLC now owns 941,516 shares of the company’s stock valued at $39,214,000 after acquiring an additional 77,380 shares in the last quarter. Candriam S.C.A. grew its position in Crinetics Pharmaceuticals by 7.4% in the 3rd quarter. Candriam S.C.A. now owns 745,094 shares of the company’s stock valued at $31,033,000 after acquiring an additional 51,225 shares in the last quarter. JPMorgan Chase & Co. grew its position in Crinetics Pharmaceuticals by 279.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,258,722 shares of the company’s stock valued at $52,426,000 after acquiring an additional 926,765 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Crinetics Pharmaceuticals in the 3rd quarter valued at about $2,841,000. Finally, Skandinaviska Enskilda Banken AB publ grew its position in Crinetics Pharmaceuticals by 885.7% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 178,584 shares of the company’s stock valued at $7,438,000 after acquiring an additional 160,467 shares in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Monday, April 20th. Wall Street Zen raised Crinetics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 17th. Oppenheimer lowered their price objective on Crinetics Pharmaceuticals from $87.00 to $84.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Lifesci Capital raised Crinetics Pharmaceuticals to a “strong-buy” rating in a research report on Friday, February 13th. Finally, Citizens Jmp lowered their price objective on Crinetics Pharmaceuticals from $97.00 to $95.00 and set a “market outperform” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.13.

Insiders Place Their Bets

In related news, Director Coelho Rogerio Vivaldi sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $36.15, for a total transaction of $180,750.00. Following the completion of the sale, the director owned 16,300 shares in the company, valued at $589,245. The trade was a 23.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen F. Betz sold 10,612 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $37.37, for a total value of $396,570.44. Following the sale, the insider owned 137,101 shares of the company’s stock, valued at approximately $5,123,464.37. The trade was a 7.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 132,667 shares of company stock worth $5,184,161 in the last three months. 3.80% of the stock is owned by company insiders.

Crinetics Pharmaceuticals Stock Performance

Shares of Crinetics Pharmaceuticals stock opened at $32.92 on Friday. The business has a 50-day simple moving average of $37.46 and a 200-day simple moving average of $42.94. The company has a market cap of $3.47 billion, a PE ratio of -6.42 and a beta of 0.24. Crinetics Pharmaceuticals, Inc. has a one year low of $25.83 and a one year 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 for the quarter, missing the consensus estimate of ($1.22) by ($0.01). The business had revenue of $10.73 million for the quarter, compared to analysts’ expectations of $8.51 million. Crinetics Pharmaceuticals had a negative return on equity of 43.96% and a negative net margin of 2,747.18%.Crinetics Pharmaceuticals’s revenue for the quarter was up 2873.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.04) EPS. On average, sell-side analysts predict that Crinetics Pharmaceuticals, Inc. will post -4.85 earnings per share for the current fiscal year.

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.