Artal Group S.A. acquired a new stake in shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 200,000 shares of the company’s stock, valued at approximately $5,730,000. Artal Group S.A. owned about 0.83% of Crinetics Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. American International Group Inc. acquired a new position in shares of Crinetics Pharmaceuticals during the third quarter valued at about $132,000. Bank of New York Mellon Corp acquired a new position in Crinetics Pharmaceuticals in the third quarter worth about $453,000. Victory Capital Management Inc. acquired a new position in Crinetics Pharmaceuticals in the third quarter worth about $2,716,000. BlackRock Inc. acquired a new position in Crinetics Pharmaceuticals in the third quarter worth about $12,013,000. Finally, Janus Henderson Group PLC acquired a new position in Crinetics Pharmaceuticals in the third quarter worth about $15,034,000. 34.67% of the stock is owned by institutional investors and hedge funds.

NASDAQ:CRNX opened at $30.35 on Wednesday. Crinetics Pharmaceuticals Inc has a 12-month low of $19.23 and a 12-month high of $42.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Tuesday, November 13th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.04). Crinetics Pharmaceuticals had a negative return on equity of 78.81% and a negative net margin of 972.23%. The business had revenue of $0.55 million during the quarter, compared to analyst estimates of $0.28 million. As a group, research analysts forecast that Crinetics Pharmaceuticals Inc will post -2.2 EPS for the current fiscal year.

CRNX has been the subject of several recent research reports. Piper Jaffray Companies initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Monday, August 13th. They issued an “overweight” rating and a $40.00 price target for the company. JPMorgan Chase & Co. initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Monday, August 13th. They issued a “neutral” rating and a $29.00 price target for the company. Leerink Swann initiated coverage on shares of Crinetics Pharmaceuticals in a research report on Monday, August 13th. They issued an “outperform” rating and a $43.00 price target for the company. Finally, Zacks Investment Research lowered shares of Crinetics Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, October 15th.

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Crinetics Pharmaceuticals Profile

Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is CRN00808, an oral selective nonpeptide somatostatin receptor type 2 biased agonist, which is in Phase I clinical trials used for the treatment of acromegaly.

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Institutional Ownership by Quarter for Crinetics Pharmaceuticals (NASDAQ:CRNX)

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