Janus Henderson Group PLC Has $164.23 Million Stock Holdings in Crinetics Pharmaceuticals, Inc. $CRNX

Janus Henderson Group PLC boosted its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,520,251 shares of the company’s stock after acquiring an additional 79,560 shares during the period. Janus Henderson Group PLC owned 4.29% of Crinetics Pharmaceuticals worth $164,227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRNX. Smartleaf Asset Management LLC raised its holdings in Crinetics Pharmaceuticals by 107.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock worth $30,000 after purchasing an additional 331 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter valued at about $30,000. Parallel Advisors LLC grew its position in shares of Crinetics Pharmaceuticals by 34.6% during the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after buying an additional 315 shares during the period. Arax Advisory Partners raised its stake in shares of Crinetics Pharmaceuticals by 131.2% during the fourth quarter. Arax Advisory Partners now owns 1,498 shares of the company’s stock worth $70,000 after buying an additional 850 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Crinetics Pharmaceuticals in the second quarter valued at approximately $45,000. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Crinetics Pharmaceuticals

In related news, Director Coelho Rogerio Vivaldi sold 3,000 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the director directly owned 19,225 shares in the company, valued at $769,000. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Okey sold 6,900 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $35.67, for a total transaction of $246,123.00. Following the completion of the sale, the director directly owned 6,400 shares in the company, valued at $228,288. This represents a 51.88% 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. 3.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRNX has been the topic of a number of recent research reports. Lifesci Capital cut shares of Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Friday, July 17th. Robert W. Baird raised their price target on Crinetics Pharmaceuticals from $62.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Jefferies Financial Group cut Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $55.00 to $85.00 in a research note on Tuesday, July 7th. Finally, UBS Group reiterated a “neutral” rating and issued a $85.00 price objective (up from $55.00) on shares of Crinetics Pharmaceuticals in a report on Tuesday. Five analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $81.00.

Crinetics Pharmaceuticals Price Performance

NASDAQ:CRNX opened at $83.52 on Friday. The business’s 50-day simple moving average is $54.15 and its 200-day simple moving average is $46.24. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $25.83 and a fifty-two week high of $84.00. The stock has a market capitalization of $8.81 billion, a PE ratio of -16.28 and a beta of 0.23.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its earnings results on Thursday, May 7th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.01). The business had revenue of $10.73 million for the quarter, compared to the consensus estimate of $8.51 million. Crinetics Pharmaceuticals had a negative return on equity of 43.96% and a negative net margin of 2,747.18%.Crinetics Pharmaceuticals’s revenue for the quarter was up 2873.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.04) earnings per share. On average, research analysts expect that Crinetics Pharmaceuticals, Inc. will post -4.86 earnings per share for the current 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.