Intech Investment Management LLC Has $926,000 Holdings in Crinetics Pharmaceuticals, Inc. $CRNX

Intech Investment Management LLC trimmed its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 47.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,225 shares of the company’s stock after selling 20,408 shares during the quarter. Intech Investment Management LLC’s holdings in Crinetics Pharmaceuticals were worth $926,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Crinetics Pharmaceuticals by 279.2% during the third quarter. JPMorgan Chase & Co. now owns 1,258,722 shares of the company’s stock valued at $52,426,000 after purchasing an additional 926,765 shares during the period. Bank of America Corp DE boosted its position in shares of Crinetics Pharmaceuticals by 88.0% during the 2nd quarter. Bank of America Corp DE now owns 573,282 shares of the company’s stock worth $16,488,000 after purchasing an additional 268,356 shares in the last quarter. Candriam S.C.A. grew its stake in shares of Crinetics Pharmaceuticals by 41.9% in the 2nd quarter. Candriam S.C.A. now owns 693,869 shares of the company’s stock valued at $19,957,000 after buying an additional 204,958 shares during the period. Rice Hall James & Associates LLC bought a new stake in Crinetics Pharmaceuticals in the 3rd quarter valued at about $7,250,000. Finally, Skandinaviska Enskilda Banken AB publ increased 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 buying an additional 160,467 shares in the last quarter. 98.51% of the stock is owned by institutional investors.

Crinetics Pharmaceuticals Trading Down 1.7%

Crinetics Pharmaceuticals stock opened at $38.23 on Monday. The firm has a 50 day simple moving average of $47.92 and a 200 day simple moving average of $43.64. Crinetics Pharmaceuticals, Inc. has a 1-year low of $24.10 and a 1-year high of $57.99. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of -7.74 and a beta of 0.23.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.29) EPS for the quarter, topping analysts’ consensus estimates of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative return on equity of 41.46% and a negative net margin of 6,046.22%.The firm’s quarterly revenue was up NaN% compared to the same quarter last year. During the same period last year, the company earned ($0.88) earnings per share. On average, equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, insider Isabel Kalofonos sold 2,500 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $55.00, for a total value of $137,500.00. Following the completion of the transaction, the insider owned 834 shares in the company, valued at $45,870. This trade represents a 74.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephanie Okey sold 3,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $39.67, for a total value of $119,010.00. Following the sale, the director owned 13,300 shares in the company, valued at approximately $527,611. This represents a 18.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 12,213 shares of company stock valued at $522,815. Corporate insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

CRNX has been the topic of several recent research reports. Morgan Stanley increased their price target on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Wednesday, January 21st. The Goldman Sachs Group raised Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price on the stock in a research report on Monday, January 12th. Wall Street Zen upgraded Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Lifesci Capital raised shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $74.78.

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.