State of Wyoming Takes Position in Crinetics Pharmaceuticals, Inc. $CRNX

State of Wyoming purchased a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 9,676 shares of the company’s stock, valued at approximately $362,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GW&K Investment Management LLC boosted its stake in Crinetics Pharmaceuticals by 73.6% during the fourth quarter. GW&K Investment Management LLC now owns 1,476,325 shares of the company’s stock worth $68,723,000 after buying an additional 625,779 shares during the last quarter. UBS Group AG increased its stake in shares of Crinetics Pharmaceuticals by 122.7% in the 4th quarter. UBS Group AG now owns 908,192 shares of the company’s stock worth $42,276,000 after acquiring an additional 500,470 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Crinetics Pharmaceuticals by 5.3% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 408,312 shares of the company’s stock worth $19,007,000 after acquiring an additional 20,387 shares during the period. Sector Gamma AS purchased a new position in shares of Crinetics Pharmaceuticals during the 4th quarter worth $5,353,000. Finally, Glenmede Trust Co. NA raised its holdings in shares of Crinetics Pharmaceuticals by 72.6% during the 1st quarter. Glenmede Trust Co. NA now owns 29,245 shares of the company’s stock worth $1,062,000 after acquiring an additional 12,301 shares during the period. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Insider Buying and Selling

In other news, Director Stephanie Okey sold 6,900 shares of the firm’s stock in a transaction 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 $228,288. This trade represents a 51.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 dated Thursday, July 2nd. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the transaction, the director owned 19,225 shares of the company’s stock, valued at $769,000. This trade 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. 3.80% of the stock is owned by insiders.

Crinetics Pharmaceuticals Trading Down 0.0%

Shares of NASDAQ:CRNX opened at $84.72 on Wednesday. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of -16.81 and a beta of 0.12. Crinetics Pharmaceuticals, Inc. has a 12-month low of $28.73 and a 12-month high of $84.80. The business has a 50-day moving average price of $66.01 and a 200 day moving average price of $48.69.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CRNX shares. Citizens Jmp lowered shares of Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Robert W. Baird lifted their target price on shares of Crinetics Pharmaceuticals from $62.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Lifesci Capital cut shares of Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. JonesTrading downgraded shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and set a $85.00 price target for the company. in a report on Tuesday, July 7th. Finally, UBS Group reaffirmed a “neutral” rating and set a $85.00 price target (up from $55.00) on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $81.00.

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.