Vanguard Group Inc. Has $425.26 Million Holdings in Crinetics Pharmaceuticals, Inc. $CRNX

Key Points

• Vanguard Group trimmed its stake by 0.4% to 9,135,504 shares—about 9.63% ownership—valued at approximately $425.26 million, and institutional investors/hedge funds now hold roughly 98.51% of CRNX.
• Insiders have been net sellers recently: CEO Richard Scott Struthers sold 21,981 shares at $37.37 (≈$821k) and insiders sold a total of 142,380 shares (~$5.57M) over the last 90 days, leaving insiders with about 4.60% ownership.
• Analyst sentiment is mixed but the consensus is a "Moderate Buy" with an average target of $76.75; the company recently beat quarterly EPS and revenue estimates but remains unprofitable (P/E of -8.44) with a market cap near $4.40 billion and a 52‑week range of $25.83–$57.99.

Vanguard Group Inc. trimmed its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,135,504 shares of the company's stock after selling 34,625 shares during the period. Vanguard Group Inc. owned about 9.63% of Crinetics Pharmaceuticals worth $425,258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in Crinetics Pharmaceuticals by 44.3% in the 3rd quarter. Wellington Management Group LLP now owns 8,381,991 shares of the company's stock worth $349,110,000 after purchasing an additional 2,574,683 shares during the last quarter. Farallon Capital Management LLC grew its position in Crinetics Pharmaceuticals by 24.2% in the 3rd quarter. Farallon Capital Management LLC now owns 5,770,098 shares of the company's stock worth $240,325,000 after purchasing an additional 1,124,000 shares during the last quarter. Paradigm Biocapital Advisors LP grew its position in Crinetics Pharmaceuticals by 8.8% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 2,550,774 shares of the company's stock worth $106,240,000 after purchasing an additional 207,221 shares during the last quarter. JPMorgan Chase & Co. grew its position in Crinetics Pharmaceuticals by 279.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,258,722 shares of the company's stock worth $52,426,000 after purchasing an additional 926,765 shares during the last quarter. Finally, Orbimed Advisors LLC boosted its position in shares of Crinetics Pharmaceuticals by 15.0% during the 2nd quarter. Orbimed Advisors LLC now owns 1,149,000 shares of the company's stock valued at $33,045,000 after acquiring an additional 150,000 shares in the last quarter. 98.51% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRNX. Citizens Jmp lifted their target price on shares of Crinetics Pharmaceuticals from $96.00 to $97.00 and gave the company a "market outperform" rating in a research report on Tuesday, April 28th. Lifesci Capital upgraded shares of Crinetics Pharmaceuticals to a "strong-buy" rating in a research report on Friday, February 13th. Wall Street Zen cut shares of Crinetics Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. The Goldman Sachs Group upgraded shares of Crinetics Pharmaceuticals from a "neutral" rating to a "buy" rating and set a $67.00 price target for the company in a research report on Monday, January 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Crinetics Pharmaceuticals in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $76.75.

Insider Activity

In related news, CEO Richard Scott Struthers sold 21,981 shares of the business's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $37.37, for a total transaction of $821,429.97. Following the completion of the transaction, the chief executive officer owned 404,778 shares in the company, valued at approximately $15,126,553.86. The trade was a 5.15% 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 Stephen F. Betz sold 10,612 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $37.37, for a total transaction of $396,570.44. Following the completion of the transaction, the insider owned 137,101 shares of the company's stock, valued at $5,123,464.37. This trade represents a 7.18% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 142,380 shares of company stock valued at $5,569,475. 4.60% of the stock is currently owned by company insiders.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ CRNX opened at $41.71 on Thursday. The stock has a market cap of $4.40 billion, a P/E ratio of -8.44 and a beta of 0.28. The firm has a 50 day moving average price of $38.42 and a 200 day moving average price of $43.88. Crinetics Pharmaceuticals, Inc. has a 52-week low of $25.83 and a 52-week high of $57.99.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($1.29) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.37) by $0.08. The firm had revenue of $6.16 million during the quarter, compared to analysts' expectations of $4.32 million. Crinetics Pharmaceuticals had a negative net margin of 6,046.22% and a negative return on equity of 41.46%. The business's revenue for the quarter was up NaN% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.88) earnings per share. Analysts predict that Crinetics Pharmaceuticals, Inc. will post -4.95 earnings per share for the current fiscal year.

About Crinetics Pharmaceuticals

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.

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