Crinetics Pharmaceuticals, Inc. $CRNX Stock Holdings Boosted by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 13.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 387,925 shares of the company’s stock after purchasing an additional 46,220 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.41% of Crinetics Pharmaceuticals worth $16,157,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in Crinetics Pharmaceuticals in the 2nd quarter worth about $30,000. Farther Finance Advisors LLC grew its holdings in Crinetics Pharmaceuticals by 523.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 842 shares of the company’s stock worth $35,000 after buying an additional 707 shares in the last quarter. Raymond James Financial Inc. bought a new position in Crinetics Pharmaceuticals in the 2nd quarter worth approximately $45,000. Penserra Capital Management LLC acquired a new stake in Crinetics Pharmaceuticals in the 2nd quarter valued at approximately $48,000. Finally, Osaic Holdings Inc. raised its stake 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 in the last quarter. 98.51% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on CRNX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Wednesday. The Goldman Sachs Group upgraded shares of Crinetics Pharmaceuticals from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Monday, January 12th. Morgan Stanley raised their target price on shares of Crinetics Pharmaceuticals from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Leerink Partners upped their price target on shares of Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, September 29th. Finally, JMP Securities increased their price objective on shares of Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the company a “market outperform” rating in a report on Friday, September 26th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.50.

Insider Buying and Selling

In other news, insider Dana Pizzuti sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $42.66, for a total transaction of $213,300.00. Following the completion of the sale, the insider directly owned 66,270 shares of the company’s stock, valued at $2,827,078.20. This represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Isabel Kalofonos sold 2,500 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $55.00, for a total transaction of $137,500.00. Following the sale, the insider directly owned 834 shares of the company’s stock, valued at $45,870. This represents a 74.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.60% of the company’s stock.

Crinetics Pharmaceuticals Trading Down 3.2%

Shares of Crinetics Pharmaceuticals stock opened at $53.18 on Friday. Crinetics Pharmaceuticals, Inc. has a 52 week low of $24.10 and a 52 week high of $57.99. The stock has a market cap of $5.05 billion, a PE ratio of -11.74 and a beta of 0.20. The company’s 50-day moving average price is $48.76 and its two-hundred day moving average price is $40.30.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) earnings per share 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 last year, the business posted ($0.96) EPS. On average, equities analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Crinetics Pharmaceuticals 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.