AQR Capital Management LLC Acquires 227 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

AQR Capital Management LLC increased its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,126 shares of the company’s stock after acquiring an additional 227 shares during the period. AQR Capital Management LLC’s holdings in Crinetics Pharmaceuticals were worth $319,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Affinity Asset Advisors LLC grew its position in Crinetics Pharmaceuticals by 9.6% during the 2nd quarter. Affinity Asset Advisors LLC now owns 515,000 shares of the company’s stock worth $23,067,000 after acquiring an additional 45,000 shares during the last quarter. Marshall Wace LLP bought a new stake in Crinetics Pharmaceuticals during the 2nd quarter worth approximately $6,325,000. Farallon Capital Management LLC grew its position in Crinetics Pharmaceuticals by 9,840.0% during the 2nd quarter. Farallon Capital Management LLC now owns 497,000 shares of the company’s stock worth $22,261,000 after acquiring an additional 492,000 shares during the last quarter. Xponance Inc. bought a new stake in Crinetics Pharmaceuticals during the 2nd quarter worth approximately $221,000. Finally, Integral Health Asset Management LLC grew its position in Crinetics Pharmaceuticals by 23.1% during the 2nd quarter. Integral Health Asset Management LLC now owns 400,000 shares of the company’s stock worth $17,916,000 after acquiring an additional 75,000 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Stephen F. Betz sold 1,035 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $51.50, for a total transaction of $53,302.50. Following the sale, the insider now owns 68,576 shares of the company’s stock, valued at approximately $3,531,664. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Crinetics Pharmaceuticals news, CFO Marc Wilson sold 25,000 shares of Crinetics Pharmaceuticals stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $51.11, for a total value of $1,277,750.00. Following the sale, the chief financial officer now owns 111,092 shares of the company’s stock, valued at $5,677,912.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen F. Betz sold 1,035 shares of Crinetics Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total value of $53,302.50. Following the completion of the sale, the insider now directly owns 68,576 shares in the company, valued at $3,531,664. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,466 shares of company stock valued at $3,462,956. 6.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CRNX has been the topic of a number of research analyst reports. HC Wainwright increased their price target on Crinetics Pharmaceuticals from $60.00 to $69.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Piper Sandler reiterated an “overweight” rating and issued a $97.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.55.

Crinetics Pharmaceuticals Stock Up 2.2 %

NASDAQ:CRNX opened at $58.86 on Thursday. Crinetics Pharmaceuticals, Inc. has a 12-month low of $25.75 and a 12-month high of $59.39. The firm has a market capitalization of $4.64 billion, a P/E ratio of -15.57 and a beta of 0.63. The stock’s fifty day simple moving average is $52.33 and its 200-day simple moving average is $49.23.

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

About Crinetics Pharmaceuticals

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.