Laurion Capital Management LP Invests $3.37 Million in Crinetics Pharmaceuticals Inc (CRNX)

Laurion Capital Management LP acquired a new stake in shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 117,700 shares of the company’s stock, valued at approximately $3,372,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American International Group Inc. acquired a new position in Crinetics Pharmaceuticals during the 3rd quarter worth about $132,000. Bank of New York Mellon Corp acquired a new position in Crinetics Pharmaceuticals during the 3rd quarter worth about $453,000. Dean Capital Investments Management LLC acquired a new position in Crinetics Pharmaceuticals during the 3rd quarter worth about $701,000. Foresite Capital Management IV LLC acquired a new position in Crinetics Pharmaceuticals during the 3rd quarter worth about $1,421,000. Finally, Victory Capital Management Inc. acquired a new position in Crinetics Pharmaceuticals during the 3rd quarter worth about $2,716,000. 67.26% of the stock is currently owned by institutional investors.

Several research analysts have commented on CRNX shares. Zacks Investment Research raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. JPMorgan Chase & Co. cut their target price on Crinetics Pharmaceuticals from $29.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, November 14th. Leerink Swann started coverage on Crinetics Pharmaceuticals in a report on Monday, August 13th. They set an “outperform” rating and a $43.00 target price on the stock. Finally, Piper Jaffray Companies started coverage on Crinetics Pharmaceuticals in a report on Monday, August 13th. They set an “overweight” rating and a $40.00 target price on the stock.

Shares of CRNX opened at $33.29 on Friday. Crinetics Pharmaceuticals Inc has a 12 month low of $19.23 and a 12 month high of $42.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Tuesday, November 13th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.04). The business had revenue of $0.55 million during the quarter, compared to analyst estimates of $0.28 million. Crinetics Pharmaceuticals had a negative net margin of 972.23% and a negative return on equity of 78.81%. As a group, analysts predict that Crinetics Pharmaceuticals Inc will post -2.2 earnings per share for the current year.

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About Crinetics Pharmaceuticals

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

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