Laurion Capital Management LP Purchases New Holdings in Crinetics Pharmaceuticals Inc (CRNX)

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.

TRADEMARK VIOLATION NOTICE: “Laurion Capital Management LP Purchases New Holdings in Crinetics Pharmaceuticals Inc (CRNX)” was published by American Banking News and is the property of of American Banking News. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://www.americanbankingnews.com/2018/12/08/laurion-capital-management-lp-purchases-new-holdings-in-crinetics-pharmaceuticals-inc-crnx.html.

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.

See Also: Dollar Cost Averaging

Want to see what other hedge funds are holding CRNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crinetics Pharmaceuticals Inc (NASDAQ:CRNX).

Institutional Ownership by Quarter for Crinetics Pharmaceuticals (NASDAQ:CRNX)

Receive News & Ratings for Crinetics Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crinetics Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply