WINTON GROUP Ltd Sells 39,816 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

WINTON GROUP Ltd lessened its holdings in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 58.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,384 shares of the company’s stock after selling 39,816 shares during the quarter. WINTON GROUP Ltd’s holdings in Crinetics Pharmaceuticals were worth $1,321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in Crinetics Pharmaceuticals by 34.6% during the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock valued at $57,000 after purchasing an additional 315 shares during the period. Arrowpoint Investment Partners Singapore Pte. Ltd. bought a new stake in Crinetics Pharmaceuticals during the 4th quarter valued at approximately $220,000. Intech Investment Management LLC raised its stake in Crinetics Pharmaceuticals by 36.1% during the 4th quarter. Intech Investment Management LLC now owns 30,243 shares of the company’s stock valued at $1,408,000 after purchasing an additional 8,018 shares during the period. Lisanti Capital Growth LLC raised its stake in Crinetics Pharmaceuticals by 88.0% during the 4th quarter. Lisanti Capital Growth LLC now owns 43,040 shares of the company’s stock valued at $2,004,000 after purchasing an additional 20,150 shares during the period. Finally, Legato Capital Management LLC raised its stake in Crinetics Pharmaceuticals by 182.1% during the 4th quarter. Legato Capital Management LLC now owns 16,035 shares of the company’s stock valued at $746,000 after purchasing an additional 10,350 shares during the period. Institutional investors own 98.51% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRNX. Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research note on Monday, April 20th. Citizens Jmp reduced their price objective on Crinetics Pharmaceuticals from $97.00 to $95.00 and set a “market outperform” rating on the stock in a research note on Friday, May 8th. Lifesci Capital raised Crinetics Pharmaceuticals to a “strong-buy” rating in a research note on Friday, February 13th. Wall Street Zen raised Crinetics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 17th. Finally, Oppenheimer reduced their price objective on Crinetics Pharmaceuticals from $87.00 to $84.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.13.

Crinetics Pharmaceuticals Stock Performance

Shares of Crinetics Pharmaceuticals stock opened at $33.48 on Tuesday. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of -6.53 and a beta of 0.24. The stock has a 50 day moving average price of $37.40 and a 200-day moving average price of $42.87. Crinetics Pharmaceuticals, Inc. has a one year low of $25.83 and a one year high of $57.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its earnings results on Thursday, May 7th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.01). The company had revenue of $10.73 million during the quarter, compared to analysts’ expectations 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 quarter last year, the firm posted ($1.04) EPS. Sell-side analysts predict that Crinetics Pharmaceuticals, Inc. will post -4.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Coelho Rogerio Vivaldi sold 5,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $36.15, for a total value of $180,750.00. Following the completion of the transaction, the director owned 16,300 shares in the company, valued at approximately $589,245. The trade was a 23.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Scott Struthers sold 21,981 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $37.37, for a total value of $821,429.97. Following the completion of the transaction, the chief executive officer owned 404,778 shares of the company’s stock, valued at approximately $15,126,553.86. This trade represents a 5.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 132,667 shares of company stock worth $5,184,161 in the last 90 days. Company insiders own 3.80% of the company’s stock.

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.