Aberdeen Group plc Buys 334,584 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

Aberdeen Group plc lifted its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 98.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 674,533 shares of the company’s stock after purchasing an additional 334,584 shares during the quarter. Aberdeen Group plc owned about 0.71% of Crinetics Pharmaceuticals worth $31,400,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the second quarter valued at $30,000. Farther Finance Advisors LLC lifted its stake in Crinetics Pharmaceuticals by 523.7% in the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $35,000 after purchasing an additional 707 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Crinetics Pharmaceuticals during the second quarter valued at approximately $45,000. Covestor Ltd grew its stake in shares of Crinetics Pharmaceuticals by 23,983.3% during the third quarter. Covestor Ltd now owns 1,445 shares of the company’s stock valued at $60,000 after buying an additional 1,439 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Crinetics Pharmaceuticals during the third quarter valued at approximately $68,000. Institutional investors own 98.51% of the company’s stock.

Insider Activity at Crinetics Pharmaceuticals

In other news, CFO Tobin Schilke sold 6,713 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 value of $266,304.71. Following the transaction, the chief financial officer directly owned 78,121 shares in the company, valued at approximately $3,099,060.07. This trade represents a 7.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Coelho Rogerio Vivaldi sold 5,000 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $36.15, for a total value of $180,750.00. Following the completion of the transaction, the director directly owned 16,300 shares of the company’s stock, valued at approximately $589,245. The trade was a 23.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,717 shares of company stock valued at $2,291,939 over the last quarter. 4.60% of the stock is owned by insiders.

Crinetics Pharmaceuticals Stock Performance

CRNX opened at $37.23 on Friday. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -7.54 and a beta of 0.30. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $57.99. The business’s fifty day simple moving average is $41.62 and its 200-day simple moving average is $44.05.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, February 26th. The company reported ($1.29) earnings per share for the quarter, beating the consensus estimate 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%.The firm had revenue of $6.16 million during the quarter, compared to the consensus estimate of $4.32 million. During the same period in the previous year, the company posted ($0.88) earnings per share. The firm’s quarterly revenue was up NaN% on a year-over-year basis. On average, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Wall Street Analysts Forecast Growth

CRNX has been the subject of a number of research analyst reports. Wall Street Zen lowered Crinetics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Citizens Jmp cut their price objective 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. Lifesci Capital upgraded Crinetics Pharmaceuticals to a “strong-buy” rating in a research note on Friday, February 13th. The Goldman Sachs Group upgraded Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Monday, January 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Crinetics Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $76.63.

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.