Squarepoint Ops LLC Has $1.21 Million Stake in Crinetics Pharmaceuticals, Inc. $CRNX

Squarepoint Ops LLC lessened its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 69.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,070 shares of the company’s stock after selling 97,422 shares during the period. Squarepoint Ops LLC’s holdings in Crinetics Pharmaceuticals were worth $1,210,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Exome Asset Management LLC acquired a new position in Crinetics Pharmaceuticals in the first quarter valued at about $1,720,000. Rhumbline Advisers increased its holdings in Crinetics Pharmaceuticals by 6.3% in the 1st quarter. Rhumbline Advisers now owns 131,950 shares of the company’s stock valued at $4,426,000 after buying an additional 7,872 shares during the period. Intech Investment Management LLC raised its position in shares of Crinetics Pharmaceuticals by 32.1% in the 1st quarter. Intech Investment Management LLC now owns 56,950 shares of the company’s stock valued at $1,910,000 after buying an additional 13,845 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of Crinetics Pharmaceuticals by 20.7% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 176,517 shares of the company’s stock worth $5,077,000 after acquiring an additional 30,243 shares during the period. Finally, Walleye Capital LLC boosted its position in shares of Crinetics Pharmaceuticals by 53.5% during the 2nd quarter. Walleye Capital LLC now owns 190,373 shares of the company’s stock worth $5,475,000 after acquiring an additional 66,391 shares in the last quarter. 98.51% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Robert W. Baird upped their target price on Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Citizens Jmp dropped their price objective on Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating for the company in a research report on Friday, November 7th. Oppenheimer raised their price objective on Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Leerink Partners boosted their target price on Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Finally, Morgan Stanley lifted their price target on shares of Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the company an “overweight” rating in a report on Monday, September 29th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.55.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ CRNX opened at $48.01 on Friday. The company has a 50 day simple moving average of $44.31 and a 200 day simple moving average of $36.77. The firm has a market cap of $4.56 billion, a PE ratio of -10.60 and a beta of 0.20. Crinetics Pharmaceuticals, Inc. has a 1 year low of $24.10 and a 1 year high of $54.78.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.11). The business had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.39 million. During the same quarter last year, the firm earned ($0.96) earnings per share. As a group, research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Matthew K. Fust sold 16,000 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $44.75, for a total value of $716,000.00. Following the completion of the sale, the director directly owned 22,836 shares in the company, valued at $1,021,911. This represents a 41.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dana Pizzuti sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $42.66, for a total value of $213,300.00. Following the transaction, the insider directly owned 66,270 shares in the company, valued at $2,827,078.20. The trade was a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,000 shares of company stock valued at $1,318,350 over the last 90 days. 4.60% of the stock is owned by insiders.

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.