Janus Henderson Group PLC Has $164.23 Million Stock Holdings in Crinetics Pharmaceuticals, Inc. $CRNX

Janus Henderson Group PLC raised its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 1.8% during the 1st quarter, HoldingsChannel reports. The fund owned 4,520,251 shares of the company’s stock after buying an additional 79,560 shares during the quarter. Janus Henderson Group PLC’s holdings in Crinetics Pharmaceuticals were worth $164,227,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of Crinetics Pharmaceuticals by 107.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after purchasing an additional 331 shares during the last quarter. Headlands Technologies LLC acquired a new position in Crinetics Pharmaceuticals during the second quarter worth $30,000. Raymond James Financial Inc. bought a new position in Crinetics Pharmaceuticals in the second quarter valued at $45,000. Parallel Advisors LLC increased its stake in Crinetics Pharmaceuticals by 34.6% in the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock valued at $57,000 after buying an additional 315 shares during the last quarter. Finally, Arax Advisory Partners lifted its position in Crinetics Pharmaceuticals by 131.2% during the 4th quarter. Arax Advisory Partners now owns 1,498 shares of the company’s stock worth $70,000 after buying an additional 850 shares in the last quarter. 98.51% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Oppenheimer restated a “market perform” rating on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 7th. Piper Sandler downgraded Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Citizens Jmp cut Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Jefferies Financial Group lowered shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $55.00 to $85.00 in a research note on Tuesday, July 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Friday, July 17th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $81.00.

Insider Buying and Selling

In other Crinetics Pharmaceuticals news, Director Coelho Rogerio Vivaldi sold 3,000 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the transaction, the director owned 19,225 shares in the company, valued at $769,000. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Okey sold 6,900 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $35.67, for a total transaction of $246,123.00. Following the completion of the sale, the director owned 6,400 shares of the company’s stock, valued at approximately $228,288. The trade was a 51.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is currently owned by company insiders.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX stock opened at $83.52 on Friday. Crinetics Pharmaceuticals, Inc. has a 52 week low of $25.83 and a 52 week high of $84.00. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of -16.28 and a beta of 0.23. The company has a 50-day simple moving average of $54.15 and a 200 day simple moving average of $46.24.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.01). The company had revenue of $10.73 million during the quarter, compared to the consensus estimate of $8.51 million. Crinetics Pharmaceuticals had a negative net margin of 2,747.18% and a negative return on equity of 43.96%. The firm’s revenue was up 2873.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.04) earnings per share. Sell-side analysts forecast that Crinetics Pharmaceuticals, Inc. will post -4.86 EPS for the current year.

Crinetics Pharmaceuticals Company 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.