Voya Investment Management LLC Has $1.45 Million Stake in Crinetics Pharmaceuticals, Inc. $CRNX

Voya Investment Management LLC reduced its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 29.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,694 shares of the company’s stock after selling 14,263 shares during the quarter. Voya Investment Management LLC’s holdings in Crinetics Pharmaceuticals were worth $1,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Hsbc Holdings PLC grew its holdings in shares of Crinetics Pharmaceuticals by 7.5% in the 1st quarter. Hsbc Holdings PLC now owns 13,489 shares of the company’s stock worth $439,000 after purchasing an additional 937 shares during the last quarter. Jump Financial LLC acquired a new position in Crinetics Pharmaceuticals in the first quarter valued at about $631,000. MetLife Investment Management LLC grew its stake in Crinetics Pharmaceuticals by 0.7% during the first quarter. MetLife Investment Management LLC now owns 53,414 shares of the company’s stock worth $1,792,000 after buying an additional 394 shares during the last quarter. Corebridge Financial Inc. increased its holdings in shares of Crinetics Pharmaceuticals by 3.0% during the first quarter. Corebridge Financial Inc. now owns 44,896 shares of the company’s stock worth $1,506,000 after buying an additional 1,297 shares in the last quarter. Finally, MPM Bioimpact LLC increased its holdings in shares of Crinetics Pharmaceuticals by 2.4% during the first quarter. MPM Bioimpact LLC now owns 631,964 shares of the company’s stock worth $21,196,000 after buying an additional 14,929 shares in the last quarter. 98.51% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley boosted their target price on Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. The Goldman Sachs Group boosted their price objective on Crinetics Pharmaceuticals from $35.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, September 26th. Citizens Jmp decreased their target price on Crinetics Pharmaceuticals from $143.00 to $108.00 and set a “market outperform” rating on the stock in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Wednesday, October 8th. Finally, Robert W. Baird increased their price objective on shares of Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.55.

Insider Activity at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $42.66, for a total transaction of $213,300.00. Following the completion of the sale, the insider directly owned 66,270 shares of the company’s stock, valued at $2,827,078.20. The trade was a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.00% of the stock is currently owned by corporate insiders.

Crinetics Pharmaceuticals Stock Down 0.9%

CRNX stock opened at $47.52 on Tuesday. Crinetics Pharmaceuticals, Inc. has a twelve month low of $24.10 and a twelve month high of $53.55. The company has a market cap of $4.51 billion, a P/E ratio of -10.49 and a beta of 0.20. The business has a fifty day moving average of $44.94 and a 200-day moving average of $37.47.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) EPS for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.11). The company had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.39 million. During the same period last year, the firm posted ($0.96) EPS. As a group, equities research analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 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.