Quantinno Capital Management LP Buys 24,878 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

Quantinno Capital Management LP raised its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 280.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,734 shares of the company’s stock after purchasing an additional 24,878 shares during the quarter. Quantinno Capital Management LP’s holdings in Crinetics Pharmaceuticals were worth $1,225,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CRNX. Smartleaf Asset Management LLC boosted its stake in shares of Crinetics Pharmaceuticals by 107.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after purchasing an additional 331 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Crinetics Pharmaceuticals during the second quarter valued at about $30,000. Parallel Advisors LLC raised its stake in Crinetics Pharmaceuticals by 34.6% in the fourth quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after buying an additional 315 shares in the last quarter. Arax Advisory Partners raised its stake in Crinetics Pharmaceuticals by 131.2% in the fourth 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. Finally, Raymond James Financial Inc. bought a new position in Crinetics Pharmaceuticals in the second quarter worth about $45,000. 98.51% of the stock is currently owned by institutional investors.

Crinetics Pharmaceuticals Price Performance

Shares of Crinetics Pharmaceuticals stock opened at $84.70 on Friday. Crinetics Pharmaceuticals, Inc. has a 1 year low of $28.73 and a 1 year high of $84.71. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of -16.81 and a beta of 0.12. The company has a 50-day moving average of $63.99 and a 200 day moving average of $48.27.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.18) by $0.04. The business had revenue of $25.12 million for the quarter, compared to analyst estimates of $14.84 million. Crinetics Pharmaceuticals had a negative net margin of 1,189.88% and a negative return on equity of 44.22%. Crinetics Pharmaceuticals’s quarterly revenue was up 2336.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.23) earnings per share. On average, equities analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -4.83 EPS for the current year.

Insider Activity at Crinetics Pharmaceuticals

In other news, 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 transaction, the director directly owned 6,400 shares in the company, valued at approximately $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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the director directly owned 19,225 shares in the company, valued at approximately $769,000. This represents a 13.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CRNX has been the topic of several research reports. Oppenheimer reaffirmed a “market perform” rating on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 7th. JonesTrading lowered Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and set a $85.00 target price for the company. in a research report on Tuesday, July 7th. Lifesci Capital cut Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. UBS Group restated a “neutral” rating and issued a $85.00 target price (up from $55.00) on shares of Crinetics Pharmaceuticals in a research note on Tuesday, July 28th. Finally, Robert W. Baird lifted their price target on Crinetics Pharmaceuticals from $62.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $81.00.

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.