Affinity Asset Advisors LLC Purchases 45,000 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Affinity Asset Advisors LLC lifted its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 515,000 shares of the company’s stock after acquiring an additional 45,000 shares during the period. Crinetics Pharmaceuticals makes up about 2.7% of Affinity Asset Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Affinity Asset Advisors LLC owned about 0.65% of Crinetics Pharmaceuticals worth $23,067,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in shares of Crinetics Pharmaceuticals during the second quarter worth about $6,325,000. Farallon Capital Management LLC boosted its position in Crinetics Pharmaceuticals by 9,840.0% during the second quarter. Farallon Capital Management LLC now owns 497,000 shares of the company’s stock worth $22,261,000 after purchasing an additional 492,000 shares during the period. Xponance Inc. bought a new position in shares of Crinetics Pharmaceuticals in the second quarter valued at about $221,000. Integral Health Asset Management LLC lifted its stake in shares of 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 buying an additional 75,000 shares during the last quarter. Finally, Hood River Capital Management LLC bought a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter worth about $18,379,000. 98.51% of the stock is owned by institutional investors.

Insider Activity

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 14,375 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $44.87, for a total transaction of $645,006.25. Following the sale, the insider now directly owns 28,507 shares of the company’s stock, valued at approximately $1,279,109.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Dana Pizzuti sold 14,375 shares of Crinetics Pharmaceuticals stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $44.87, for a total transaction of $645,006.25. Following the transaction, the insider now owns 28,507 shares in the company, valued at $1,279,109.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James Hassard sold 15,000 shares of the business’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $44.08, for a total transaction of $661,200.00. Following the completion of the sale, the insider now directly owns 29,259 shares in the company, valued at approximately $1,289,736.72. The disclosure for this sale can be found here. Insiders sold 142,595 shares of company stock valued at $7,112,902 over the last quarter. 6.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CRNX shares. JPMorgan Chase & Co. upped their target price on Crinetics Pharmaceuticals from $47.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Oppenheimer reissued an “outperform” rating and set a $73.00 price target (down previously from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. HC Wainwright lifted their price objective 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 reiterated a “market outperform” rating and set a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research note on Tuesday, June 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $90.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crinetics Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $68.55.

Crinetics Pharmaceuticals Trading Down 1.2 %

Shares of NASDAQ:CRNX opened at $49.82 on Wednesday. Crinetics Pharmaceuticals, Inc. has a 52-week low of $25.35 and a 52-week high of $55.78. The company has a fifty day moving average of $52.23 and a 200-day moving average of $48.16.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, August 8th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. During the same period in the previous year, the firm posted ($0.94) earnings per share. The firm’s quarterly revenue was down 59.6% on a year-over-year basis. As a group, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

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.