AJOVista LLC Makes New $58,000 Investment in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

AJOVista LLC acquired a new stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,630 shares of the company’s stock, valued at approximately $58,000.

A number of other large investors have also modified their holdings of CRNX. Amalgamated Bank increased its holdings in Crinetics Pharmaceuticals by 10.4% in the 3rd quarter. Amalgamated Bank now owns 6,298 shares of the company’s stock valued at $187,000 after buying an additional 592 shares during the period. Alps Advisors Inc. lifted its position in Crinetics Pharmaceuticals by 1.6% during the 3rd quarter. Alps Advisors Inc. now owns 40,328 shares of the company’s stock worth $1,199,000 after buying an additional 618 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Crinetics Pharmaceuticals by 98.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,403 shares of the company’s stock worth $42,000 after acquiring an additional 695 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Crinetics Pharmaceuticals by 6.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,218 shares of the company’s stock worth $1,395,000 after acquiring an additional 2,343 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in Crinetics Pharmaceuticals by 35.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 13,857 shares of the company’s stock valued at $412,000 after acquiring an additional 3,620 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Trading Up 0.3 %

NASDAQ CRNX opened at $47.36 on Monday. Crinetics Pharmaceuticals, Inc. has a 12 month low of $15.76 and a 12 month high of $49.58. The stock has a 50-day simple moving average of $43.83 and a 200 day simple moving average of $37.41.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.01). Crinetics Pharmaceuticals had a negative net margin of 4,223.27% and a negative return on equity of 52.93%. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.84) earnings per share. As a group, equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.34 earnings per share for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, CFO Marc Wilson sold 6,942 shares of Crinetics Pharmaceuticals stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $42.91, for a total transaction of $297,881.22. Following the transaction, the chief financial officer now directly owns 110,630 shares of the company’s stock, valued at $4,747,133.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 6,942 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $42.91, for a total value of $297,881.22. Following the completion of the sale, the chief financial officer now directly owns 110,630 shares in the company, valued at $4,747,133.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dana Pizzuti sold 15,089 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $44.06, for a total value of $664,821.34. Following the sale, the insider now directly owns 27,786 shares in the company, valued at approximately $1,224,251.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,216 shares of company stock valued at $8,509,397. Corporate insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CRNX. JMP Securities reiterated a “market outperform” rating and set a $80.00 target price on shares of Crinetics Pharmaceuticals in a research report on Thursday, March 28th. Jonestrading upped their price objective on Crinetics Pharmaceuticals from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Crinetics Pharmaceuticals in a research note on Tuesday, March 19th. Morgan Stanley initiated coverage on Crinetics Pharmaceuticals in a research note on Tuesday, January 16th. They set an “overweight” rating and a $50.00 price target on the stock. Finally, Cantor Fitzgerald lifted their price objective on Crinetics Pharmaceuticals from $50.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Crinetics Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Crinetics Pharmaceuticals Company 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.