Rice Hall James & Associates LLC Purchases 23,871 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

Rice Hall James & Associates LLC boosted its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 13.9% during the 1st quarter, Holdings Channel reports. The fund owned 195,701 shares of the company’s stock after buying an additional 23,871 shares during the period. Rice Hall James & Associates LLC’s holdings in Crinetics Pharmaceuticals were worth $7,108,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CRNX. Wellington Management Group LLP raised its position in shares of Crinetics Pharmaceuticals by 44.3% during the third quarter. Wellington Management Group LLP now owns 8,381,991 shares of the company’s stock worth $349,110,000 after purchasing an additional 2,574,683 shares during the period. Farallon Capital Management LLC lifted its holdings in shares of Crinetics Pharmaceuticals by 20.2% in the 4th quarter. Farallon Capital Management LLC now owns 6,933,098 shares of the company’s stock worth $322,736,000 after purchasing an additional 1,163,000 shares in the last quarter. Janus Henderson Group PLC grew its position in Crinetics Pharmaceuticals by 15.1% in the 4th quarter. Janus Henderson Group PLC now owns 4,440,691 shares of the company’s stock valued at $206,604,000 after purchasing an additional 581,900 shares during the period. Paradigm Biocapital Advisors LP grew its position in Crinetics Pharmaceuticals by 8.8% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 2,550,774 shares of the company’s stock valued at $106,240,000 after purchasing an additional 207,221 shares during the period. Finally, Siren L.L.C. increased its stake in Crinetics Pharmaceuticals by 26.3% during the 1st quarter. Siren L.L.C. now owns 1,903,636 shares of the company’s stock valued at $69,140,000 after purchasing an additional 396,000 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Activity at Crinetics Pharmaceuticals

In related news, Director Stephanie Okey sold 6,900 shares of the firm’s 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 completion of the transaction, the director directly owned 6,400 shares of the company’s stock, valued at approximately $228,288. This trade represents a 51.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of Crinetics Pharmaceuticals 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 owned 19,225 shares of the company’s stock, valued at $769,000. This represents a 13.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.80% of the company’s stock.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX opened at $83.73 on Friday. The business has a 50-day moving average of $49.37 and a 200 day moving average of $45.09. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $25.83 and a fifty-two week high of $84.00. The firm has a market cap of $8.83 billion, a P/E ratio of -16.32 and a beta of 0.23.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($1.23) EPS 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 net margin of 2,747.18% and a negative return on equity of 43.96%. Crinetics Pharmaceuticals’s revenue for the quarter was up 2873.4% compared to the same quarter last year. During the same period last year, the company earned ($1.04) earnings per share. As a group, research analysts predict that Crinetics Pharmaceuticals, Inc. will post -4.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald downgraded shares of Crinetics Pharmaceuticals from an “overweight” rating to a “hold” rating in a report on Tuesday, July 7th. Oppenheimer reissued a “market perform” rating on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 7th. HC Wainwright lowered shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and raised their price target for the stock from $81.00 to $85.00 in a research note on Tuesday, July 7th. Wall Street Zen raised shares of Crinetics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Finally, JonesTrading downgraded Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and set a $85.00 price objective on the stock. in a research note on Tuesday, July 7th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $78.27.

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.