Siren L.L.C. Purchases 396,000 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

Siren L.L.C. boosted its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 26.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,903,636 shares of the company’s stock after purchasing an additional 396,000 shares during the quarter. Crinetics Pharmaceuticals makes up 1.9% of Siren L.L.C.’s portfolio, making the stock its 13th largest position. Siren L.L.C.’s holdings in Crinetics Pharmaceuticals were worth $69,140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CRNX. Smartleaf Asset Management LLC lifted its position 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 acquiring an additional 331 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Crinetics Pharmaceuticals during the second quarter worth about $30,000. Parallel Advisors LLC grew its position in shares of Crinetics Pharmaceuticals by 34.6% during the fourth quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after purchasing an additional 315 shares in the last quarter. Arax Advisory Partners raised its stake in Crinetics Pharmaceuticals by 131.2% during the 4th quarter. Arax Advisory Partners now owns 1,498 shares of the company’s stock valued at $70,000 after purchasing an additional 850 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Crinetics Pharmaceuticals in the 2nd quarter worth approximately $45,000. 98.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on CRNX. Cantor Fitzgerald downgraded Crinetics Pharmaceuticals from an “overweight” rating to a “hold” rating in a research note on Tuesday, July 7th. Wall Street Zen raised shares of Crinetics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. TD Cowen lowered shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 8th. HC Wainwright cut shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and raised their target price for the company from $81.00 to $85.00 in a research note on Tuesday, July 7th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Crinetics Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $78.27.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, Director Stephanie Okey sold 6,900 shares of the stock in a transaction 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 transaction, the director owned 6,400 shares in the company, valued at $228,288. This trade represents a 51.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of Crinetics Pharmaceuticals 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 completion of the transaction, the director directly owned 19,225 shares of the company’s stock, valued at $769,000. The trade was a 13.50% 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. Insiders own 3.80% of the company’s stock.

Crinetics Pharmaceuticals Trading Down 0.1%

Shares of Crinetics Pharmaceuticals stock opened at $83.65 on Friday. The firm has a market cap of $8.82 billion, a PE ratio of -16.31 and a beta of 0.23. The stock has a 50 day moving average of $48.44 and a 200 day moving average of $44.82. Crinetics Pharmaceuticals, Inc. has a 12 month low of $25.83 and a 12 month high of $84.00.

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

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.