OneDigital Investment Advisors LLC Invests $253,000 in Crinetics Pharmaceuticals, Inc. $CRNX

OneDigital Investment Advisors LLC acquired a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 6,774 shares of the company’s stock, valued at approximately $253,000.

Several other large investors also recently modified their holdings of the business. Wellington Management Group LLP grew its stake in Crinetics Pharmaceuticals by 44.3% during the 3rd quarter. Wellington Management Group LLP now owns 8,381,991 shares of the company’s stock valued at $349,110,000 after purchasing an additional 2,574,683 shares in the last quarter. Farallon Capital Management LLC raised its holdings in shares of Crinetics Pharmaceuticals by 20.2% during the fourth quarter. Farallon Capital Management LLC now owns 6,933,098 shares of the company’s stock worth $322,736,000 after purchasing an additional 1,163,000 shares during the period. Janus Henderson Group PLC raised its stake in Crinetics Pharmaceuticals by 1.8% during the first quarter. Janus Henderson Group PLC now owns 4,520,251 shares of the company’s stock worth $164,227,000 after acquiring an additional 79,560 shares during the period. Paradigm Biocapital Advisors LP raised its position in shares of Crinetics Pharmaceuticals by 8.8% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 2,550,774 shares of the company’s stock worth $106,240,000 after purchasing an additional 207,221 shares during the period. Finally, Siren L.L.C. lifted its stake in Crinetics Pharmaceuticals by 26.3% in the first quarter. Siren L.L.C. now owns 1,903,636 shares of the company’s stock valued at $69,140,000 after buying an additional 396,000 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX opened at $84.69 on Friday. The firm’s 50 day moving average is $68.04 and its 200-day moving average is $49.17. Crinetics Pharmaceuticals, Inc. has a 12-month low of $28.73 and a 12-month high of $84.79. The stock has a market capitalization of $8.98 billion, a P/E ratio of -16.80 and a beta of 0.12.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Monday, August 3rd. The company reported ($1.14) EPS for the quarter, beating the consensus estimate of ($1.18) by $0.04. The business had revenue of $25.12 million during 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%. The business’s quarterly revenue was up 2336.9% on a year-over-year basis. During the same period in the prior year, the business earned ($1.23) earnings per share. As a group, equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -4.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler cut Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Cantor Fitzgerald downgraded Crinetics Pharmaceuticals from an “overweight” rating to a “hold” rating in a research report on Tuesday, July 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Crinetics Pharmaceuticals in a research note on Tuesday, July 7th. Jefferies Financial Group cut Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and lifted their price target for the company from $55.00 to $85.00 in a research report on Tuesday, July 7th. Finally, Lifesci Capital downgraded Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Crinetics Pharmaceuticals presently has an average rating of “Hold” and an average target price of $81.00.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, Director Stephanie Okey sold 6,900 shares of the stock in a transaction on Wednesday, June 17th. The stock was 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 in the company, valued at approximately $228,288. This represents a 51.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of the firm’s stock in a transaction 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 sale, the director directly owned 19,225 shares of the company’s stock, 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 corporate insiders.

Crinetics Pharmaceuticals 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.