Siren L.L.C. Raises Stock Holdings in Crinetics Pharmaceuticals, Inc. $CRNX

Siren L.L.C. raised its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 26.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,903,636 shares of the company’s stock after acquiring an additional 396,000 shares during the period. Crinetics Pharmaceuticals makes up approximately 1.9% of Siren L.L.C.’s holdings, making the stock its 13th biggest position. Siren L.L.C. owned approximately 1.81% of Crinetics Pharmaceuticals worth $69,140,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of Crinetics Pharmaceuticals by 107.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after purchasing an additional 331 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Crinetics Pharmaceuticals in the second quarter worth approximately $30,000. Parallel Advisors LLC boosted its holdings in Crinetics Pharmaceuticals by 34.6% in the fourth quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock worth $57,000 after purchasing an additional 315 shares during the last quarter. Arax Advisory Partners grew its position in Crinetics Pharmaceuticals by 131.2% in the 4th quarter. Arax Advisory Partners now owns 1,498 shares of the company’s stock worth $70,000 after purchasing an additional 850 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Crinetics Pharmaceuticals during the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Analyst Ratings Changes

CRNX has been the topic of several research analyst reports. Evercore cut Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Cantor Fitzgerald lowered Crinetics Pharmaceuticals from an “overweight” rating to a “hold” rating in a report on Tuesday, July 7th. Citizens Jmp cut Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Jefferies Financial Group downgraded Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and increased their target price for the company from $55.00 to $85.00 in a report on Tuesday, July 7th. Finally, UBS Group assumed coverage on Crinetics Pharmaceuticals in a research note on Thursday, July 2nd. They set a “buy” rating and a $55.00 price target for the company. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $78.27.

Insider Activity

In related news, Director Stephanie Okey sold 6,900 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $35.67, for a total transaction of $246,123.00. Following the completion of the transaction, the director directly owned 6,400 shares in the company, valued at approximately $228,288. The trade was a 51.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of the 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 of the company’s stock, valued at $769,000. This represents a 13.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.80% of the company’s stock.

Crinetics Pharmaceuticals Price Performance

Shares of Crinetics Pharmaceuticals stock opened at $83.65 on Friday. Crinetics Pharmaceuticals, Inc. has a 1-year low of $25.83 and a 1-year high of $84.00. The company’s fifty day simple moving average is $48.44 and its 200-day simple moving average is $44.82. The stock has a market capitalization of $8.82 billion, a PE ratio of -16.31 and a beta of 0.23.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.23) EPS 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 company had revenue of $10.73 million during the quarter, compared to analysts’ expectations of $8.51 million. During the same quarter last year, the company earned ($1.04) earnings per share. The company’s revenue for the quarter was up 2873.4% on a year-over-year basis. As a group, research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -4.86 EPS 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.