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

Intech Investment Management LLC lessened its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 47.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. 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.

A number of other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in Crinetics Pharmaceuticals by 279.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,258,722 shares of the company’s stock worth $52,426,000 after purchasing an additional 926,765 shares in the last quarter. Bank of America Corp DE grew 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. increased its holdings in shares of Crinetics Pharmaceuticals by 41.9% during the second quarter. Candriam S.C.A. now owns 693,869 shares of the company’s stock worth $19,957,000 after purchasing an additional 204,958 shares during the period. Rice Hall James & Associates LLC bought a new position in shares of Crinetics Pharmaceuticals during the third quarter worth approximately $7,250,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Crinetics Pharmaceuticals by 885.7% in the third 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.

Analysts Set New Price Targets

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

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX opened at $38.23 on Monday. Crinetics Pharmaceuticals, Inc. has a 52-week low of $24.10 and a 52-week high of $57.99. The company has a market capitalization of $4.00 billion, a PE ratio of -7.74 and a beta of 0.23. The company has a fifty day moving average of $47.92 and a 200-day moving average of $43.64.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.29) earnings per share 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%.Crinetics Pharmaceuticals’s quarterly revenue was up NaN% on a year-over-year basis. During the same quarter last year, the company posted ($0.88) EPS. On average, equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Isabel Kalofonos sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $55.00, for a total transaction of $137,500.00. Following the completion of the transaction, the insider owned 834 shares in the company, valued at approximately $45,870. This trade represents a 74.99% decrease in their position. 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 Crinetics Pharmaceuticals stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $39.67, for a total transaction of $119,010.00. Following the transaction, the director directly owned 13,300 shares of the company’s stock, valued at $527,611. This represents a 18.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 12,213 shares of company stock valued at $522,815. 4.60% of the stock is currently owned by company insiders.

About Crinetics Pharmaceuticals

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.