Capital Fund Management S.A. Makes New $424,000 Investment in Crinetics Pharmaceuticals, Inc. $CRNX

Capital Fund Management S.A. acquired a new position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,741 shares of the company’s stock, valued at approximately $424,000.

Several other institutional investors have also recently modified their holdings of CRNX. Penserra Capital Management LLC bought a new stake in Crinetics Pharmaceuticals in the 2nd quarter worth approximately $48,000. Kestra Investment Management LLC bought a new position in Crinetics Pharmaceuticals during the first quarter valued at approximately $95,000. PNC Financial Services Group Inc. raised its stake in shares of Crinetics Pharmaceuticals by 25.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,395 shares of the company’s stock worth $114,000 after acquiring an additional 688 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter worth approximately $100,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Crinetics Pharmaceuticals by 16.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,619 shares of the company’s stock worth $104,000 after acquiring an additional 505 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX opened at $46.67 on Friday. Crinetics Pharmaceuticals, Inc. has a 1 year low of $24.10 and a 1 year high of $60.34. The stock has a market capitalization of $4.43 billion, a PE ratio of -10.30 and a beta of 0.20. The business’s 50-day moving average is $43.24 and its 200 day moving average is $35.50.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.11). The business had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.39 million. During the same period in the prior year, the business posted ($0.96) EPS. As a group, equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on Crinetics Pharmaceuticals from $35.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. lowered their target price on Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, September 24th. Citizens Jmp dropped their target price on Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating for the company in a report on Friday, November 7th. Finally, Oppenheimer lifted their price target on Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $77.55.

Insider Buying and Selling

In other news, insider Dana Pizzuti sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $42.66, for a total value of $213,300.00. Following the completion of the sale, the insider directly owned 66,270 shares of the company’s stock, valued at approximately $2,827,078.20. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Richard Scott Struthers sold 4,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $45.00, for a total transaction of $180,000.00. Following the sale, the chief executive officer directly owned 106,000 shares in the company, valued at $4,770,000. The trade was a 3.64% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 30,000 shares of company stock valued at $1,318,350 over the last quarter. 4.60% of the stock is owned by company insiders.

Crinetics Pharmaceuticals Profile

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.