OneDigital Investment Advisors LLC Makes New Investment in Crinetics Pharmaceuticals, Inc. $CRNX

OneDigital Investment Advisors LLC bought a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,774 shares of the company’s stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Parkman Healthcare Partners LLC grew its stake in Crinetics Pharmaceuticals by 0.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 73,725 shares of the company’s stock worth $3,071,000 after buying an additional 313 shares during the last quarter. Parallel Advisors LLC lifted its stake in Crinetics Pharmaceuticals by 34.6% in the fourth quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock valued at $57,000 after buying an additional 315 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Crinetics Pharmaceuticals by 107.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after buying an additional 331 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of Crinetics Pharmaceuticals by 6.3% in the fourth quarter. Brooklyn Investment Group now owns 5,890 shares of the company’s stock valued at $280,000 after acquiring an additional 348 shares during the period. Finally, Commerce Bank boosted its holdings in shares of Crinetics Pharmaceuticals by 5.9% in the fourth quarter. Commerce Bank now owns 8,019 shares of the company’s stock valued at $373,000 after acquiring an additional 444 shares during the period. 98.51% of the stock is owned by hedge funds and other institutional investors.

Crinetics Pharmaceuticals Price Performance

NASDAQ CRNX opened at $84.69 on Friday. The business has a fifty day moving average of $68.04 and a 200-day moving average of $49.17. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $28.73 and a fifty-two week high of $84.79. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of -16.80 and a beta of 0.12.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Monday, August 3rd. The company reported ($1.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.04. Crinetics Pharmaceuticals had a negative net margin of 1,189.88% and a negative return on equity of 44.22%. The company had revenue of $25.12 million for the quarter, compared to analyst estimates of $14.84 million. During the same period in the prior year, the firm earned ($1.23) EPS. The firm’s quarterly revenue was up 2336.9% on a year-over-year basis. As a group, analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -4.83 EPS for the current year.

Insider Activity

In other Crinetics Pharmaceuticals news, Director Stephanie Okey sold 6,900 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $35.67, for a total value of $246,123.00. Following the sale, the director directly owned 6,400 shares of the company’s stock, valued at approximately $228,288. This trade represents a 51.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the director directly owned 19,225 shares in the company, valued at $769,000. This represents a 13.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.80% of the company’s stock.

Wall Street Analysts Forecast Growth

CRNX has been the topic of a number of recent research reports. Wall Street Zen raised shares of Crinetics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. TD Cowen cut shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Lifesci Capital lowered Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. JonesTrading lowered shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and set a $85.00 price target on the stock. in a research note on Tuesday, July 7th. Finally, Jefferies Financial Group lowered Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and upped their price objective for the stock from $55.00 to $85.00 in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Crinetics Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $81.00.

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.