Voya Investment Management LLC Lowers Stake in Crinetics Pharmaceuticals, Inc. $CRNX

Voya Investment Management LLC reduced its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 7.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 358,535 shares of the company’s stock after selling 30,685 shares during the period. Voya Investment Management LLC owned approximately 0.38% of Crinetics Pharmaceuticals worth $12,025,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Exome Asset Management LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the first quarter valued at about $1,720,000. Amalgamated Bank boosted its holdings in shares of Crinetics Pharmaceuticals by 17.3% in the first quarter. Amalgamated Bank now owns 3,159 shares of the company’s stock valued at $106,000 after acquiring an additional 467 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Crinetics Pharmaceuticals by 6,291.5% in the first quarter. GAMMA Investing LLC now owns 6,775 shares of the company’s stock valued at $227,000 after acquiring an additional 6,669 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Crinetics Pharmaceuticals by 6.3% in the first quarter. Rhumbline Advisers now owns 131,950 shares of the company’s stock valued at $4,426,000 after acquiring an additional 7,872 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Crinetics Pharmaceuticals by 1.5% in the first quarter. Swiss National Bank now owns 161,800 shares of the company’s stock valued at $5,427,000 after acquiring an additional 2,400 shares in the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRNX has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating and issued a $81.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Friday, June 27th. The Goldman Sachs Group initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Thursday, July 10th. They issued a “neutral” rating and a $36.00 price objective for the company. Finally, JMP Securities reduced their price objective on shares of Crinetics Pharmaceuticals from $90.00 to $86.00 and set a “market outperform” rating for the company in a research note on Monday, August 11th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Crinetics Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $65.33.

Crinetics Pharmaceuticals Stock Up 1.0%

CRNX opened at $34.10 on Wednesday. Crinetics Pharmaceuticals, Inc. has a 52-week low of $24.10 and a 52-week high of $62.53. The company has a 50 day moving average of $31.12 and a two-hundred day moving average of $31.35. The company has a market cap of $3.21 billion, a P/E ratio of -8.30 and a beta of 0.28.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Thursday, August 7th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($1.13) by ($0.10). The firm had revenue of $1.03 million for the quarter, compared to analyst estimates of $0.52 million. The company’s revenue for the quarter was up 158.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.94) EPS. Research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 30,000 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $30.43, for a total transaction of $912,900.00. Following the sale, the insider directly owned 66,270 shares of the company’s stock, valued at approximately $2,016,596.10. This represents a 31.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.00% of the company’s stock.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.