According to Zacks, “Crinetics Pharmaceuticals Inc is a clinical stage pharmaceutical company. It focuses on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company’s product pipeline consists of CRN00808 for the treatment of Acromegaly, CRN02481 for the treatment of Hyperinsulinemias and CRN01941 for the treatment of Neuroendocrine Tumors which are in clinical stage. Crinetics Pharmaceuticals Inc is based in San Diego, United States. “
Shares of NASDAQ CRNX opened at $19.00 on Friday. The stock has a market capitalization of $453.27 million and a price-to-earnings ratio of -8.52. Crinetics Pharmaceuticals has a 12 month low of $17.32 and a 12 month high of $42.00. The firm’s 50 day simple moving average is $21.83 and its 200-day simple moving average is $23.91. The company has a debt-to-equity ratio of 0.04, a current ratio of 19.07 and a quick ratio of 18.04.
In other news, insider Ventures Iv L.P. 5Am sold 250,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $22.20, for a total transaction of $5,550,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA purchased a new position in shares of Crinetics Pharmaceuticals during the 1st quarter worth $42,000. Marshall Wace North America L.P. purchased a new position in shares of Crinetics Pharmaceuticals during the 1st quarter worth $43,000. JPMorgan Chase & Co. raised its holdings in shares of Crinetics Pharmaceuticals by 45.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,033 shares of the company’s stock worth $75,000 after acquiring an additional 946 shares during the period. Bank of America Corp DE raised its holdings in shares of Crinetics Pharmaceuticals by 377.2% during the 4th quarter. Bank of America Corp DE now owns 5,932 shares of the company’s stock worth $179,000 after acquiring an additional 4,689 shares during the period. Finally, TD Asset Management Inc. purchased a new position in shares of Crinetics Pharmaceuticals during the 2nd quarter worth $210,000. Institutional investors own 73.82% of the company’s stock.
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.
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