Crinetics Pharmaceuticals Inc (NASDAQ:CRNX) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 2,019,500 shares, a decrease of 8.6% from the June 30th total of 2,210,500 shares. Approximately 14.9% of the company’s stock are short sold. Based on an average daily volume of 69,000 shares, the days-to-cover ratio is currently 29.3 days.
In other news, insider Ventures Iv L.P. 5Am sold 250,000 shares of the company’s 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 can be accessed through this hyperlink. 7.40% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA purchased a new stake in Crinetics Pharmaceuticals in the 1st quarter valued at $42,000. Marshall Wace North America L.P. purchased a new stake in Crinetics Pharmaceuticals in the 1st quarter valued at $43,000. JPMorgan Chase & Co. raised its position in Crinetics Pharmaceuticals by 45.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,033 shares of the company’s stock valued at $75,000 after buying an additional 946 shares during the last quarter. Bank of America Corp DE raised its position in Crinetics Pharmaceuticals by 377.2% in the 4th quarter. Bank of America Corp DE now owns 5,932 shares of the company’s stock valued at $179,000 after buying an additional 4,689 shares during the last quarter. Finally, TD Asset Management Inc. purchased a new stake in Crinetics Pharmaceuticals in the 2nd quarter valued at $210,000. 73.70% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised Crinetics Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, May 20th.
NASDAQ CRNX traded up $0.06 on Thursday, reaching $18.06. The company had a trading volume of 31,603 shares, compared to its average volume of 66,092. The stock has a market capitalization of $455.01 million and a P/E ratio of -8.10. The company’s fifty day moving average is $22.31 and its 200 day moving average is $24.02. Crinetics Pharmaceuticals has a 52-week low of $17.32 and a 52-week high of $42.00. The company has a quick ratio of 18.04, a current ratio of 18.04 and a debt-to-equity ratio of 0.04.
Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.05). Crinetics Pharmaceuticals had a negative net margin of 1,303.31% and a negative return on equity of 26.96%. On average, research analysts expect that Crinetics Pharmaceuticals will post -1.92 EPS for the current year.
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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