WINTON GROUP Ltd Invests $2.84 Million in Crinetics Pharmaceuticals, Inc. $CRNX

WINTON GROUP Ltd acquired a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 68,200 shares of the company’s stock, valued at approximately $2,841,000.

Other institutional investors also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Crinetics Pharmaceuticals in the second quarter valued at about $30,000. Farther Finance Advisors LLC lifted its position in shares of Crinetics Pharmaceuticals by 523.7% during the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock valued at $35,000 after buying an additional 707 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Crinetics Pharmaceuticals during the second quarter valued at about $45,000. Penserra Capital Management LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at about $48,000. Finally, Covestor Ltd boosted its holdings in shares of Crinetics Pharmaceuticals by 23,983.3% in the 3rd quarter. Covestor Ltd now owns 1,445 shares of the company’s stock valued at $60,000 after buying an additional 1,439 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CRNX shares. Lifesci Capital upgraded shares of Crinetics Pharmaceuticals to a “strong-buy” rating in a research note on Friday, February 13th. The Goldman Sachs Group upgraded shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Monday, January 12th. Citizens Jmp cut their price target on shares of Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating on the stock in a report on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Wednesday, January 21st. Finally, Morgan Stanley increased their price objective on Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.78.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, CFO Tobin Schilke sold 6,713 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $39.67, for a total value of $266,304.71. Following the sale, the chief financial officer directly owned 78,121 shares of the company’s stock, valued at approximately $3,099,060.07. This represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephanie Okey sold 3,000 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $39.67, for a total value of $119,010.00. Following the sale, the director directly owned 13,300 shares in the company, valued at $527,611. This represents a 18.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 12,213 shares of company stock valued at $522,815. 6.00% of the stock is owned by insiders.

Crinetics Pharmaceuticals Trading Down 2.3%

Shares of NASDAQ CRNX opened at $37.35 on Wednesday. Crinetics Pharmaceuticals, Inc. has a 12 month low of $24.10 and a 12 month high of $57.99. The company has a 50 day simple moving average of $47.54 and a two-hundred day simple moving average of $43.75. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of -7.56 and a beta of 0.23.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, February 26th. The company reported ($1.29) EPS for the quarter, beating the consensus estimate of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative net margin of 6,046.22% and a negative return on equity of 41.46%. During the same period in the prior year, the company posted ($0.88) EPS. Crinetics Pharmaceuticals’s revenue was up NaN% compared to the same quarter last year. Analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

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.