Tema Etfs LLC Has $408,000 Stake in Crinetics Pharmaceuticals, Inc. $CRNX

Tema Etfs LLC lowered its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 60.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,767 shares of the company’s stock after selling 13,533 shares during the quarter. Tema Etfs LLC’s holdings in Crinetics Pharmaceuticals were worth $408,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at about $30,000. Farther Finance Advisors LLC increased its holdings in Crinetics Pharmaceuticals by 523.7% in the third quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $35,000 after purchasing an additional 707 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Crinetics Pharmaceuticals in the second quarter worth approximately $45,000. Covestor Ltd lifted its stake in Crinetics Pharmaceuticals by 23,983.3% in the third quarter. Covestor Ltd now owns 1,445 shares of the company’s stock valued at $60,000 after buying an additional 1,439 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Crinetics Pharmaceuticals during the 3rd quarter worth approximately $68,000. 98.51% of the stock is owned by institutional investors.

Insider Activity

In other news, COO Jeff E. Knight sold 9,911 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $37.37, for a total transaction of $370,374.07. Following the completion of the sale, the chief operating officer directly owned 112,018 shares of the company’s stock, valued at $4,186,112.66. The trade was a 8.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Tobin Schilke sold 6,713 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $39.67, for a total transaction of $266,304.71. Following the completion of the transaction, the chief financial officer directly owned 78,121 shares in the company, valued at approximately $3,099,060.07. The trade was a 7.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 59,717 shares of company stock valued at $2,291,939. 4.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

CRNX has been the subject of several research analyst reports. The Goldman Sachs Group upgraded shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Monday, January 12th. Morgan Stanley increased their target price on shares of Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Citizens Jmp decreased their price target on shares of Crinetics Pharmaceuticals from $105.00 to $96.00 and set a “market outperform” rating for the company in a research note on Monday, March 2nd. Wall Street Zen downgraded shares of Crinetics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.63.

Crinetics Pharmaceuticals Stock Up 1.8%

Shares of NASDAQ:CRNX opened at $37.23 on Friday. Crinetics Pharmaceuticals, Inc. has a twelve month low of $24.10 and a twelve month high of $57.99. The stock’s 50 day moving average is $41.94 and its 200-day moving average is $43.96. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -7.54 and a beta of 0.30.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.37) by $0.08. Crinetics Pharmaceuticals had a negative net margin of 6,046.22% and a negative return on equity of 41.46%. The business had revenue of $6.16 million during the quarter, compared to the consensus estimate of $4.32 million. During the same quarter last year, the firm posted ($0.88) EPS. Crinetics Pharmaceuticals’s revenue was up NaN% compared to the same quarter last year. Equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current fiscal year.

Crinetics Pharmaceuticals Company Profile

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.