NEOS Investment Management LLC Has $2.96 Million Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

NEOS Investment Management LLC raised its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 57,933 shares of the company’s stock after purchasing an additional 544 shares during the period. NEOS Investment Management LLC owned 0.06% of Crinetics Pharmaceuticals worth $2,962,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its stake in Crinetics Pharmaceuticals by 13.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company’s stock worth $254,000 after buying an additional 600 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of Crinetics Pharmaceuticals by 1.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 38,049 shares of the company’s stock worth $1,945,000 after purchasing an additional 708 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Crinetics Pharmaceuticals in the 4th quarter valued at $41,000. Oppenheimer Asset Management Inc. raised its holdings in Crinetics Pharmaceuticals by 19.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 5,038 shares of the company’s stock worth $258,000 after buying an additional 822 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Crinetics Pharmaceuticals by 0.3% in the third quarter. JPMorgan Chase & Co. now owns 285,956 shares of the company’s stock valued at $14,612,000 after buying an additional 894 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company’s stock.

Insider Activity

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of Crinetics Pharmaceuticals stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $592,959.60. Following the completion of the transaction, the chief executive officer now owns 329,147 shares of the company’s stock, valued at $11,256,827.40. The trade was a 5.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dana Pizzuti sold 2,515 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $86,013.00. Following the completion of the transaction, the insider now owns 72,233 shares of the company’s stock, valued at $2,470,368.60. This trade represents a 3.36 % decrease in their ownership of the stock. 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 quarter. Company insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Price Performance

NASDAQ:CRNX opened at $34.73 on Friday. The company has a market capitalization of $3.23 billion, a P/E ratio of -9.31 and a beta of 0.58. The business has a fifty day simple moving average of $36.02 and a two-hundred day simple moving average of $47.55. Crinetics Pharmaceuticals, Inc. has a 1 year low of $31.84 and a 1 year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. As a group, analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Analyst Ratings Changes

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

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.