18,800 Shares in Crinetics Pharmaceuticals, Inc. $CRNX Bought by Jump Financial LLC

Key Points

• Jump Financial LLC acquired 18,800 shares of Crinetics Pharmaceuticals, valued at approximately $631,000, as part of a significant increase in institutional investments in the company.
• Crinetics Pharmaceuticals' stock has an average rating of "Moderate Buy" from analysts, with a target price averaging $68.86, while it's currently priced at $30.99.
• In recent earnings, Crinetics reported a loss of ($1.23) EPS, missing estimates but showing a 158.4% increase in revenue compared to the previous year.

Jump Financial LLC bought a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,800 shares of the company's stock, valued at approximately $631,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CRNX. Hsbc Holdings PLC increased its position in Crinetics Pharmaceuticals by 61.7% during the fourth quarter. Hsbc Holdings PLC now owns 12,552 shares of the company's stock worth $645,000 after acquiring an additional 4,788 shares during the period. The Manufacturers Life Insurance Company increased its position in Crinetics Pharmaceuticals by 11.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 148,956 shares of the company's stock worth $7,616,000 after acquiring an additional 14,869 shares during the period. Northern Trust Corp increased its position in Crinetics Pharmaceuticals by 20.4% during the fourth quarter. Northern Trust Corp now owns 879,814 shares of the company's stock worth $44,985,000 after acquiring an additional 149,298 shares during the period. Ameriprise Financial Inc. increased its position in Crinetics Pharmaceuticals by 110.8% during the fourth quarter. Ameriprise Financial Inc. now owns 355,174 shares of the company's stock worth $18,159,000 after acquiring an additional 186,681 shares during the period. Finally, Brevan Howard Capital Management LP bought a new position in Crinetics Pharmaceuticals during the fourth quarter worth $500,000. Institutional investors own 98.51% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CRNX. HC Wainwright reaffirmed a "buy" rating and set a $81.00 target price on shares of Crinetics Pharmaceuticals in a research report on Friday, June 27th. JMP Securities decreased their price target on shares of Crinetics Pharmaceuticals from $90.00 to $86.00 and set a "market outperform" rating on the stock in a research note on Monday, August 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Thursday, July 10th. They set a "neutral" rating and a $36.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Crinetics Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $68.86.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX opened at $30.99 on Monday. Crinetics Pharmaceuticals, Inc. has a 52 week low of $24.10 and a 52 week high of $62.53. The company's fifty day moving average is $30.02 and its 200-day moving average is $31.39. The company has a market capitalization of $2.92 billion, a PE ratio of -7.54 and a beta of 0.28.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.10). The firm had revenue of $1.03 million for the quarter, compared to the consensus estimate of $0.52 million. During the same quarter in the previous year, the company earned ($0.94) EPS. The business's quarterly revenue was up 158.4% compared to the same quarter last year. On average, analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other news, insider Stephen F. Betz sold 97,483 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $32.23, for a total value of $3,141,877.09. Following the sale, the insider owned 99,713 shares in the company, valued at approximately $3,213,749.99. The trade was a 49.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dana Pizzuti sold 30,000 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $30.43, for a total transaction of $912,900.00. Following the transaction, the insider owned 66,270 shares in the company, valued at approximately $2,016,596.10. This trade represents a 31.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,975 shares of company stock worth $4,244,214 in the last 90 days. 4.60% of the stock is owned by corporate insiders.

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.

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