Tema Etfs LLC Makes New Investment in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Tema Etfs LLC acquired a new position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 57,933 shares of the company's stock, valued at approximately $2,962,000. Crinetics Pharmaceuticals makes up about 1.2% of Tema Etfs LLC's investment portfolio, making the stock its 26th biggest position. Tema Etfs LLC owned about 0.06% of Crinetics Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new position in Crinetics Pharmaceuticals in the 4th quarter valued at $41,000. Headlands Technologies LLC bought a new position in Crinetics Pharmaceuticals in the fourth quarter valued at about $52,000. Harvest Fund Management Co. Ltd bought a new position in Crinetics Pharmaceuticals in the fourth quarter valued at about $66,000. KBC Group NV boosted its holdings in Crinetics Pharmaceuticals by 69.3% in the fourth quarter. KBC Group NV now owns 3,712 shares of the company's stock valued at $190,000 after acquiring an additional 1,519 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Crinetics Pharmaceuticals by 13.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company's stock worth $254,000 after purchasing an additional 600 shares during the period. Institutional investors own 98.51% of the company's stock.

Crinetics Pharmaceuticals Price Performance

CRNX stock traded down $1.42 during trading hours on Wednesday, reaching $29.95. The stock had a trading volume of 668,084 shares, compared to its average volume of 860,620. The stock has a 50-day simple moving average of $31.57 and a 200 day simple moving average of $41.21. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $24.10 and a fifty-two week high of $62.53. The stock has a market capitalization of $2.80 billion, a PE ratio of -8.03 and a beta of 0.31.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($1.04) EPS for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.05). The company had revenue of $0.36 million during the quarter, compared to analyst estimates of $0.10 million. The business's revenue for the quarter was down 43.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.93) EPS. On average, sell-side analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Insider Transactions at Crinetics Pharmaceuticals

In other news, COO Jeff E. Knight sold 7,162 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total value of $244,940.40. Following the transaction, the chief operating officer now directly owns 87,491 shares of the company's stock, valued at $2,992,192.20. This represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dana Pizzuti sold 2,515 shares of the stock in a transaction dated 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 directly owns 72,233 shares in the company, valued at approximately $2,470,368.60. This represents a 3.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,015 shares of company stock worth $923,913. 4.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. TD Cowen started coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They issued a "buy" rating on the stock. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a research report on Wednesday, January 22nd. Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a "peer perform" rating on the stock. Finally, Stifel Nicolaus initiated coverage on shares of Crinetics Pharmaceuticals in a research note on Tuesday, March 25th. They issued a "buy" rating and a $60.00 price target on the stock. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Crinetics Pharmaceuticals Profile

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.