Integral Health Asset Management LLC Purchases 75,000 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Integral Health Asset Management LLC raised its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 23.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 400,000 shares of the company’s stock after buying an additional 75,000 shares during the quarter. Crinetics Pharmaceuticals comprises approximately 1.7% of Integral Health Asset Management LLC’s portfolio, making the stock its 17th biggest position. Integral Health Asset Management LLC owned 0.51% of Crinetics Pharmaceuticals worth $17,916,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in Crinetics Pharmaceuticals by 366,571.4% during the first quarter. Russell Investments Group Ltd. now owns 51,334 shares of the company’s stock worth $2,403,000 after acquiring an additional 51,320 shares in the last quarter. Swiss National Bank boosted its position in shares of Crinetics Pharmaceuticals by 21.4% in the 1st quarter. Swiss National Bank now owns 126,500 shares of the company’s stock worth $5,921,000 after purchasing an additional 22,300 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Crinetics Pharmaceuticals by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 3,575,076 shares of the company’s stock worth $167,349,000 after buying an additional 72,624 shares during the last quarter. First Light Asset Management LLC grew its stake in shares of Crinetics Pharmaceuticals by 25.5% in the 4th quarter. First Light Asset Management LLC now owns 1,987,772 shares of the company’s stock worth $70,725,000 after buying an additional 404,443 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Crinetics Pharmaceuticals by 1,224.8% during the 2nd quarter. SG Americas Securities LLC now owns 79,051 shares of the company’s stock valued at $3,541,000 after buying an additional 73,084 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX opened at $53.15 on Monday. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of -14.06 and a beta of 0.63. The stock’s 50-day simple moving average is $52.40 and its two-hundred day simple moving average is $48.05. Crinetics Pharmaceuticals, Inc. has a 52-week low of $25.35 and a 52-week high of $55.78.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Thursday, August 8th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.08). The business had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.47 million. The business’s revenue was down 59.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.94) earnings per share. As a group, equities analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Marc Wilson sold 32,129 shares of Crinetics Pharmaceuticals stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $43.61, for a total transaction of $1,401,145.69. Following the transaction, the chief financial officer now directly owns 111,092 shares of the company’s stock, valued at approximately $4,844,722.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Jeff E. Knight sold 956 shares of Crinetics Pharmaceuticals stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $44.38, for a total transaction of $42,427.28. Following the transaction, the chief operating officer now directly owns 52,580 shares of the company’s stock, valued at approximately $2,333,500.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Marc Wilson sold 32,129 shares of Crinetics Pharmaceuticals stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $43.61, for a total value of $1,401,145.69. Following the transaction, the chief financial officer now directly owns 111,092 shares in the company, valued at $4,844,722.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,551 shares of company stock valued at $7,155,329. Insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CRNX shares. Piper Sandler reissued an “overweight” rating and issued a $97.00 target price on shares of Crinetics Pharmaceuticals in a report on Tuesday, July 2nd. Oppenheimer restated an “outperform” rating and set a $73.00 price target (down from $74.00) on shares of Crinetics Pharmaceuticals in a report on Friday, August 9th. HC Wainwright raised their price target on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the company a “buy” rating in a report on Friday, August 9th. JMP Securities restated a “market outperform” rating and set a $80.00 price target on shares of Crinetics Pharmaceuticals in a report on Tuesday, June 4th. Finally, JPMorgan Chase & Co. raised their price target on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Crinetics Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $68.55.

Crinetics Pharmaceuticals Company 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.