Crinetics Pharmaceuticals, Inc. $CRNX Shares Purchased by Hood River Capital Management LLC

by · The Markets Daily

Hood River Capital Management LLC grew its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Free Report) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 888,470 shares of the company’s stock after acquiring an additional 15,835 shares during the period. Hood River Capital Management LLC owned about 0.94% of Crinetics Pharmaceuticals worth $25,552,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. MetLife Investment Management LLC lifted its stake in Crinetics Pharmaceuticals by 0.7% during the first quarter. MetLife Investment Management LLC now owns 53,414 shares of the company’s stock worth $1,792,000 after purchasing an additional 394 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Crinetics Pharmaceuticals by 16.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,619 shares of the company’s stock valued at $104,000 after buying an additional 505 shares during the period. Assetmark Inc. grew its position in shares of Crinetics Pharmaceuticals by 3.3% during the 2nd quarter. Assetmark Inc. now owns 18,667 shares of the company’s stock valued at $537,000 after buying an additional 603 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Crinetics Pharmaceuticals by 25.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,395 shares of the company’s stock worth $114,000 after acquiring an additional 688 shares during the period. Finally, Tema Etfs LLC lifted its holdings in Crinetics Pharmaceuticals by 1.5% in the first quarter. Tema Etfs LLC now owns 58,807 shares of the company’s stock worth $1,972,000 after acquiring an additional 874 shares during the last quarter. 98.51% of the stock is owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ CRNX opened at $46.67 on Monday. Crinetics Pharmaceuticals, Inc. has a 1 year low of $24.10 and a 1 year high of $60.34. The stock has a fifty day moving average price of $43.24 and a two-hundred day moving average price of $35.57. The firm has a market cap of $4.43 billion, a P/E ratio of -10.30 and a beta of 0.20.

Crinetics Pharmaceuticals (NASDAQ:CRNX – Get Free Report) last announced its earnings results on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing the consensus estimate of ($1.27) by ($0.11). The company had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.39 million. During the same period in the prior year, the company earned ($0.96) earnings per share. On average, research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Dana Pizzuti sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $42.66, for a total transaction of $213,300.00. Following the completion of the sale, the insider directly owned 66,270 shares of the company’s stock, valued at $2,827,078.20. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard Scott Struthers sold 4,000 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $45.00, for a total value of $180,000.00. Following the sale, the chief executive officer owned 106,000 shares in the company, valued at approximately $4,770,000. The trade was a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 30,000 shares of company stock worth $1,318,350. Insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CRNX shares. Leerink Partners increased their price target on Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. dropped their target price on Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Wednesday, October 8th. Citizens Jmp cut their target price on Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating on the stock in a research note on Friday, November 7th. Finally, Oppenheimer boosted their price target on Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Crinetics Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $77.55.

Check Out Our Latest Report on Crinetics Pharmaceuticals

Crinetics Pharmaceuticals Company Profile

(Free Report)

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.

Further Reading

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