Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System grew its holdings in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,543 shares of the company’s stock after acquiring an additional 958 shares during the period. Arizona State Retirement System’s holdings in Crinetics Pharmaceuticals were worth $831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Janus Henderson Group PLC lifted its position in Crinetics Pharmaceuticals by 264.1% in the first quarter. Janus Henderson Group PLC now owns 1,978,172 shares of the company’s stock valued at $92,526,000 after acquiring an additional 1,434,909 shares during the last quarter. Artal Group S.A. purchased a new stake in shares of Crinetics Pharmaceuticals in the first quarter valued at about $65,088,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Crinetics Pharmaceuticals by 27.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,823,218 shares of the company’s stock valued at $178,966,000 after buying an additional 814,360 shares during the last quarter. Vestal Point Capital LP purchased a new stake in shares of Crinetics Pharmaceuticals in the fourth quarter valued at about $16,011,000. Finally, First Light Asset Management LLC raised its holdings in shares of Crinetics Pharmaceuticals by 25.5% in the fourth quarter. First Light Asset Management LLC now owns 1,987,772 shares of the company’s stock valued at $70,725,000 after buying an additional 404,443 shares during the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Trading Up 5.0 %

Shares of CRNX opened at $53.80 on Friday. The firm’s 50-day moving average is $52.09 and its two-hundred day moving average is $47.67. Crinetics Pharmaceuticals, Inc. has a twelve month low of $25.35 and a twelve month high of $55.78. The firm has a market capitalization of $4.31 billion, a P/E ratio of -14.23 and a beta of 0.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, August 8th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.08). The business had revenue of $0.40 million for the quarter, compared to the consensus estimate of $0.47 million. During the same quarter in the prior year, the firm earned ($0.94) EPS. The company’s revenue for the quarter was down 59.6% compared to the same quarter last year. Analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Robert W. Baird upped their target price on shares of Crinetics Pharmaceuticals from $52.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. JMP Securities reaffirmed a “market outperform” rating and issued a $80.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, June 4th. HC Wainwright boosted their price target on shares of Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Morgan Stanley boosted their price target on shares of Crinetics Pharmaceuticals from $50.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $73.00 price target (down from $74.00) on shares of Crinetics Pharmaceuticals in a research note on Friday, August 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.27.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 9,500 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $45.73, for a total value of $434,435.00. Following the sale, the insider now owns 27,786 shares of the company’s stock, valued at $1,270,653.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Dana Pizzuti sold 9,500 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $45.73, for a total transaction of $434,435.00. Following the transaction, the insider now owns 27,786 shares of the company’s stock, valued at $1,270,653.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Hassard sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $44.66, for a total transaction of $669,900.00. Following the transaction, the insider now directly owns 29,259 shares in the company, valued at approximately $1,306,706.94. The disclosure for this sale can be found here. Insiders have sold 168,051 shares of company stock valued at $8,259,664 over the last quarter. Corporate insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Profile

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.