Laurion Capital Management LP purchased a new position in shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 117,700 shares of the company’s stock, valued at approximately $3,372,000. Laurion Capital Management LP owned about 0.49% of Crinetics Pharmaceuticals at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in CRNX. American International Group Inc. acquired a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth approximately $132,000. Bank of New York Mellon Corp acquired a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth approximately $453,000. Dean Capital Investments Management LLC acquired a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth approximately $701,000. Foresite Capital Management IV LLC acquired a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth approximately $1,421,000. Finally, Victory Capital Management Inc. acquired a new stake in Crinetics Pharmaceuticals during the 3rd quarter worth approximately $2,716,000. 67.26% of the stock is owned by institutional investors and hedge funds.
Crinetics Pharmaceuticals stock opened at $33.29 on Friday. Crinetics Pharmaceuticals Inc has a one year low of $19.23 and a one year high of $42.00.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Tuesday, November 13th. The company reported ($0.38) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.04). Crinetics Pharmaceuticals had a negative return on equity of 78.81% and a negative net margin of 972.23%. The company had revenue of $0.55 million for the quarter, compared to the consensus estimate of $0.28 million. Equities analysts predict that Crinetics Pharmaceuticals Inc will post -2.2 earnings per share for the current year.
CRNX has been the subject of several research reports. Leerink Swann began coverage on Crinetics Pharmaceuticals in a report on Monday, August 13th. They set an “outperform” rating and a $43.00 price target for the company. JPMorgan Chase & Co. began coverage on Crinetics Pharmaceuticals in a research note on Monday, August 13th. They set a “neutral” rating and a $29.00 price objective on the stock. Piper Jaffray Companies began coverage on Crinetics Pharmaceuticals in a research note on Monday, August 13th. They set an “overweight” rating and a $40.00 price objective on the stock. Finally, Zacks Investment Research lowered Crinetics Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, October 15th.
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Crinetics Pharmaceuticals Profile
Crinetics Pharmaceuticals, Inc, a clinical stage pharmaceutical company, focuses on the discovery, development, and commercialization of therapeutics for rare endocrine diseases and endocrine-related tumors. Its lead product candidate is CRN00808, an oral selective nonpeptide somatostatin receptor type 2 biased agonist, which is in Phase I clinical trials used for the treatment of acromegaly.
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