WINTON GROUP Ltd Reduces Stock Position in Crinetics Pharmaceuticals, Inc. $CRNX

WINTON GROUP Ltd lowered its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 58.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,384 shares of the company’s stock after selling 39,816 shares during the quarter. WINTON GROUP Ltd’s holdings in Crinetics Pharmaceuticals were worth $1,321,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in Crinetics Pharmaceuticals during the 2nd quarter valued at $30,000. Raymond James Financial Inc. purchased a new position in Crinetics Pharmaceuticals during the 2nd quarter valued at $45,000. Parallel Advisors LLC boosted its holdings in Crinetics Pharmaceuticals by 34.6% during the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock valued at $57,000 after acquiring an additional 315 shares during the period. Abich Financial Wealth Management LLC purchased a new position in Crinetics Pharmaceuticals during the 3rd quarter valued at $68,000. Finally, Osaic Holdings Inc. boosted its holdings in Crinetics Pharmaceuticals by 126.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,478 shares of the company’s stock valued at $75,000 after acquiring an additional 1,382 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Trading Up 1.7%

Shares of CRNX stock opened at $33.48 on Tuesday. Crinetics Pharmaceuticals, Inc. has a twelve month low of $25.83 and a twelve month high of $57.99. The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of -6.53 and a beta of 0.24. The stock has a fifty day simple moving average of $37.40 and a two-hundred day simple moving average of $42.87.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, May 7th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.01). Crinetics Pharmaceuticals had a negative return on equity of 43.96% and a negative net margin of 2,747.18%.The firm had revenue of $10.73 million during the quarter, compared to analysts’ expectations of $8.51 million. During the same quarter in the prior year, the company posted ($1.04) earnings per share. Crinetics Pharmaceuticals’s quarterly revenue was up 2873.4% compared to the same quarter last year. Research analysts predict that Crinetics Pharmaceuticals, Inc. will post -4.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CRNX shares. Citizens Jmp dropped their price objective on Crinetics Pharmaceuticals from $97.00 to $95.00 and set a “market outperform” rating for the company in a report on Friday, May 8th. Wall Street Zen upgraded Crinetics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Monday, April 20th. Lifesci Capital upgraded Crinetics Pharmaceuticals to a “strong-buy” rating in a report on Friday, February 13th. Finally, Oppenheimer lowered their target price on Crinetics Pharmaceuticals from $87.00 to $84.00 and set an “outperform” rating for the company in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.13.

Insider Transactions at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Jeff E. Knight sold 85,163 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $40.10, for a total value of $3,415,036.30. Following the completion of the sale, the insider directly owned 105,289 shares in the company, valued at approximately $4,222,088.90. This represents a 44.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Stephen F. Betz sold 10,612 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $37.37, for a total value of $396,570.44. Following the completion of the sale, the insider owned 137,101 shares of the company’s stock, valued at $5,123,464.37. This represents a 7.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 132,667 shares of company stock valued at $5,184,161 over the last 90 days. 3.80% of the stock is owned by corporate insiders.

About Crinetics Pharmaceuticals

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.