Moody Aldrich Partners LLC Trims Position in Crinetics Pharmaceuticals, Inc. $CRNX

by · The Markets Daily

Moody Aldrich Partners LLC lessened its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX – Free Report) by 16.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 115,543 shares of the company’s stock after selling 22,253 shares during the period. Moody Aldrich Partners LLC owned 0.12% of Crinetics Pharmaceuticals worth $4,812,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Farther Finance Advisors LLC raised its position in shares of Crinetics Pharmaceuticals by 523.7% during the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock valued at $35,000 after buying an additional 707 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Crinetics Pharmaceuticals in the 2nd quarter worth $30,000. Raymond James Financial Inc. bought a new position in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at about $45,000. Penserra Capital Management LLC purchased a new position in shares of Crinetics Pharmaceuticals during the second quarter valued at about $48,000. Finally, Osaic Holdings Inc. grew its position in shares of Crinetics Pharmaceuticals by 126.1% during the second quarter. Osaic Holdings Inc. now owns 2,478 shares of the company’s stock valued at $75,000 after purchasing an additional 1,382 shares in the last quarter. 98.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on CRNX shares. Leerink Partners increased their target price on Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, October 8th. JMP Securities lifted their price objective on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the stock a “market outperform” rating in a research note on Friday, September 26th. JPMorgan Chase & Co. reduced their target price on shares of Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Wednesday, September 24th. Finally, Oppenheimer increased their price target on shares of Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.55.

View Our Latest Report on Crinetics Pharmaceuticals

Crinetics Pharmaceuticals Stock Down 1.8%

Shares of NASDAQ CRNX opened at $46.55 on Thursday. Crinetics Pharmaceuticals, Inc. has a twelve month low of $24.10 and a twelve month high of $53.55. The firm has a market cap of $4.42 billion, a PE ratio of -10.28 and a beta of 0.20. The business has a fifty day simple moving average of $45.15 and a two-hundred day simple moving average of $37.65.

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

Insider Transactions at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $42.66, for a total transaction of $213,300.00. Following the transaction, the insider owned 66,270 shares of the company’s stock, valued at approximately $2,827,078.20. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.60% of the stock is currently owned by insiders.

Crinetics Pharmaceuticals Company Profile

(Free Report)

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.

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