Vanguard Group Inc. Purchases New Stake in Crinetics Pharmaceuticals Inc (NASDAQ:CRNX)

Vanguard Group Inc. acquired a new stake in shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) in the third quarter, according to the company …

Crinetics Pharmaceuticals logoVanguard Group Inc. acquired a new stake in shares of Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 247,923 shares of the company’s stock, valued at approximately $7,103,000. Vanguard Group Inc. owned about 1.03% of Crinetics Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. American International Group Inc. acquired a new stake in shares of Crinetics Pharmaceuticals during the 3rd quarter valued at $132,000. Teachers Advisors LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at $260,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at $268,000. Zimmer Partners LP purchased a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at $287,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Crinetics Pharmaceuticals in the third quarter valued at $453,000. Institutional investors own 69.86% of the company’s stock.

Shares of CRNX traded down $1.20 during mid-day trading on Friday, reaching $23.60. The company’s stock had a trading volume of 72,693 shares, compared to its average volume of 103,613. The firm has a market capitalization of $568.64 million and a P/E ratio of -10.58. Crinetics Pharmaceuticals Inc has a 1 year low of $19.23 and a 1 year high of $42.00.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its earnings results on Wednesday, March 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.06. Crinetics Pharmaceuticals had a negative return on equity of 38.38% and a negative net margin of 1,117.52%. The company had revenue of $0.78 million during the quarter, compared to analyst estimates of $0.32 million. On average, equities analysts expect that Crinetics Pharmaceuticals Inc will post -1.87 earnings per share for the current year.

In related news, major shareholder Ventures Iv L.P. 5Am sold 154,839 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $24.25, for a total transaction of $3,754,845.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

A number of analysts have recently issued reports on CRNX shares. HC Wainwright started coverage on Crinetics Pharmaceuticals in a report on Thursday, February 14th. They issued a “buy” rating and a $35.00 target price for the company. Cantor Fitzgerald started coverage on Crinetics Pharmaceuticals in a report on Monday, March 11th. They issued an “overweight” rating and a $40.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $37.20.

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Crinetics Pharmaceuticals Company 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.

Further Reading: How to Invest in a Bull Market

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

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Stocks To Watch This Week: Crinetics Pharmaceuticals, Inc. (CRNX), Nxt-ID, Inc. (NXTD)

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) shares ended at $23.51 with 0.22 mln shares exchanging hands. That puts the market capitalization …

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) shares ended at $23.51 with 0.22 mln shares exchanging hands. That puts the market capitalization at $561.18 mln. It opened the session with a $22.31 price tag, later ranging from $21.76 to $24.6783, the range at which the stock has traded at throughout the day. The stock stands nearly -44.02% off versus the 52-week high and 22.26% away from the 52-week low. The number of shares currently owned by investors are 23.87 mln.

Sell-side analyst recommendations point to a short term price target of $39 on the shares of Crinetics Pharmaceuticals, Inc. (CRNX). The consensus rating is 2, indicating analysts in general look favorably on the company’s future prospects.

The current price is staying below the SMA lines which signify weakens and is generally unhealthy/negative and may provide the momentum for driving the share price lower. Current price places the company’s stock -15.03% away from its 200-day simple moving average, -6.38%, away from the 50-day average and also -2.95% away from 20-day average.

For this year, Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) is performing -21.61%. Over the past five trading sessions it is -3.41%; -3.01% for the month; -29.38% for the last quarter; -35.82% for the past six-months; and 0% for the last 12 months. The last close places the company’s stock about $18.49 off its 52 week high of $42 and $4.28 above the 52 week low of $19.23.

Nxt-ID, Inc. (NASDAQ:NXTD) closed down -0.12 points or -11.5% at $0.91 with 0.3 mln shares exchanging hands. Current price level places the company’s stock about -67.73% from the 52-week high and 71.7% away from the 52-week low. Sell-side analyst recommendations point to a short term price target of $2 on the company shares. The consensus rating is 0, indicating analysts in general look favorably on the company’s future prospects.

Nxt-ID, Inc. (NXTD) opened the session with a $1.01 price tag, later ranging from $0.9056 to $1.0241, the range at which the stock has traded at throughout the day. The stock stands nearly $1.81 off versus the 52-week high of $2.82 and $0.48 above the 52-week low of $0.53. The number of shares currently owned by investors are 25.78 mln. The current price change puts the market capitalization at $23.46 mln.

In an overview of the current analyst recommendations, Buy count is 2 and Overweight is 0 while the number of analysts recommending Sell and Underweight are 0 and 0, respectively. Also, the Hold rating count is 0 as of 3/12/2019. The analyst recommendations from a month ago are 2 Buy, 0 Overweight, 0 Sell, 0 Hold and 0 Underweight. Investors might also notice that three month ago the Buy recommendations (2) outnumbered Sell recommendations (0). The count of Hold ratings in that period was 0.

Over the past five trading sessions shares of Nxt-ID, Inc. (NASDAQ:NXTD) are -13.33%; -22.22% for the month; -6.67% for the last quarter; -41.29% for the past six-months; and -62.86% for the last 12 months.The current price is staying below the SMA lines which signify weakens and is generally unhealthy/negative and may provide the momentum for driving the share price lower. Current price places the company’s stock -30.74% away from its 200-day simple moving average, -15.27%, away from the 50-day average and also -19.5% away from 20-day average. The stock is performing 33.82% year to date.

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