Teacher Retirement System of Texas Has $684,000 Stock Holdings in Crinetics Pharmaceuticals, Inc. $CRNX

Teacher Retirement System of Texas increased its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,781 shares of the company’s stock after buying an additional 1,339 shares during the period. Teacher Retirement System of Texas’ holdings in Crinetics Pharmaceuticals were worth $684,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in Crinetics Pharmaceuticals during the first quarter worth approximately $95,000. Amalgamated Bank increased its stake in shares of Crinetics Pharmaceuticals by 17.3% during the first quarter. Amalgamated Bank now owns 3,159 shares of the company’s stock worth $106,000 after purchasing an additional 467 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Crinetics Pharmaceuticals by 25.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,395 shares of the company’s stock worth $114,000 after purchasing an additional 688 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Crinetics Pharmaceuticals by 16.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,619 shares of the company’s stock worth $104,000 after purchasing an additional 505 shares during the last quarter. Finally, Strs Ohio bought a new stake in Crinetics Pharmaceuticals in the 1st quarter valued at $124,000. Institutional investors and hedge funds own 98.51% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CRNX. JPMorgan Chase & Co. lowered their price objective on Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 24th. Leerink Partners upped their price target on shares of Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, September 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday, October 8th. JMP Securities increased their target price on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the stock a “market outperform” rating in a research report on Friday, September 26th. Finally, Oppenheimer lifted their price target on shares of Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the company an “outperform” rating in a research report on Tuesday, September 30th. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.25.

Crinetics Pharmaceuticals Stock Down 8.0%

Shares of Crinetics Pharmaceuticals stock opened at $40.00 on Friday. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -8.83 and a beta of 0.25. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $62.53. The firm’s 50-day moving average price is $39.61 and its two-hundred day moving average price is $33.86.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, November 6th. The company reported ($1.38) EPS for the quarter, missing the consensus estimate of ($1.27) by ($0.11). The firm had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.39 million. During the same period in the previous year, the firm earned ($0.96) EPS. On average, sell-side analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, insider Dana Pizzuti sold 30,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $30.43, for a total transaction of $912,900.00. Following the completion of the sale, the insider directly owned 66,270 shares in the company, valued at $2,016,596.10. This represents a 31.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew K. Fust sold 16,000 shares of Crinetics Pharmaceuticals stock in a transaction on Friday, September 26th. The shares were sold at an average price of $44.75, for a total value of $716,000.00. Following the completion of the transaction, the director owned 22,836 shares in the company, valued at approximately $1,021,911. The trade was a 41.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 66,492 shares of company stock worth $2,420,687 over the last three months. Corporate insiders own 4.60% of the company’s stock.

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.