XTX Topco Ltd Acquires Shares of 34,013 Crinetics Pharmaceuticals, Inc. $CRNX

XTX Topco Ltd bought a new position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,013 shares of the company’s stock, valued at approximately $978,000.

Other large investors have also added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new position in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at approximately $48,000. Kestra Investment Management LLC acquired a new stake in shares of Crinetics Pharmaceuticals in the first quarter valued at about $95,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Crinetics Pharmaceuticals by 16.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,619 shares of the company’s stock worth $104,000 after buying an additional 505 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Crinetics Pharmaceuticals by 25.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,395 shares of the company’s stock worth $114,000 after buying an additional 688 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Crinetics Pharmaceuticals during the 1st quarter worth about $124,000. Institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ:CRNX opened at $45.48 on Monday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of -10.04 and a beta of 0.20. Crinetics Pharmaceuticals, Inc. has a 1 year low of $24.10 and a 1 year high of $60.34. The company’s 50 day simple moving average is $42.35 and its 200 day simple moving average is $35.03.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.11). The company had revenue of $0.14 million for the quarter, compared to analyst estimates of $0.39 million. During the same period in the previous year, the business posted ($0.96) EPS. As a group, analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Richard Scott Struthers sold 4,000 shares of the company’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $45.00, for a total value of $180,000.00. Following the completion of the transaction, the chief executive officer directly owned 106,000 shares in the company, valued at approximately $4,770,000. This represents a 3.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew K. Fust sold 16,000 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $44.75, for a total value of $716,000.00. Following the completion of the sale, the director directly owned 22,836 shares of the company’s stock, valued at $1,021,911. The trade was a 41.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,000 shares of company stock valued at $1,318,350. Company insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRNX. Leerink Partners raised their price objective on Crinetics Pharmaceuticals from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Monday, September 29th. Oppenheimer boosted their price target on Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 30th. Citizens Jmp reduced their price target on shares of Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating on the stock in a research report on Friday, November 7th. Robert W. Baird boosted their target price on shares of Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Finally, JPMorgan Chase & Co. cut their price target on Crinetics Pharmaceuticals from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, September 24th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.55.

About Crinetics Pharmaceuticals

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.