ADAR1 Capital Management LLC Has $2.72 Million Stock Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

ADAR1 Capital Management LLC lessened its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 39.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 53,125 shares of the company’s stock after selling 35,300 shares during the quarter. ADAR1 Capital Management LLC owned approximately 0.06% of Crinetics Pharmaceuticals worth $2,716,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Crinetics Pharmaceuticals by 134.2% in the third quarter. BNP Paribas Financial Markets now owns 20,942 shares of the company’s stock valued at $1,070,000 after purchasing an additional 12,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Crinetics Pharmaceuticals by 4.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 271,747 shares of the company’s stock valued at $13,886,000 after buying an additional 10,767 shares during the last quarter. State Street Corp raised its holdings in shares of Crinetics Pharmaceuticals by 0.9% in the 3rd quarter. State Street Corp now owns 2,838,484 shares of the company’s stock worth $145,047,000 after acquiring an additional 25,561 shares during the last quarter. Castleark Management LLC bought a new position in Crinetics Pharmaceuticals in the 3rd quarter valued at about $3,748,000. Finally, Barclays PLC boosted its stake in Crinetics Pharmaceuticals by 75.5% during the 3rd quarter. Barclays PLC now owns 207,712 shares of the company’s stock valued at $10,614,000 after purchasing an additional 89,358 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on CRNX shares. Stifel Nicolaus assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They set a “buy” rating and a $60.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. JMP Securities restated a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Wolfe Research assumed coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating for the company. Finally, TD Cowen assumed coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $73.00.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 7,162 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $244,940.40. Following the completion of the sale, the chief operating officer now directly owns 87,491 shares of the company’s stock, valued at approximately $2,992,192.20. This represents a 7.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dana Pizzuti sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $39.07, for a total transaction of $195,350.00. Following the completion of the transaction, the insider now owns 31,748 shares in the company, valued at approximately $1,240,394.36. This represents a 13.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,015 shares of company stock valued at $1,119,263 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ CRNX opened at $26.89 on Monday. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of -7.21 and a beta of 0.37. Crinetics Pharmaceuticals, Inc. has a 1 year low of $26.40 and a 1 year high of $62.53. The business has a 50-day moving average of $35.19 and a two-hundred day moving average of $46.71.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, equities research analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Crinetics Pharmaceuticals Profile

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.