Rtw Investments Adds $4M in Crinetics Pharmaceuticals, Inc. ($CRNX)
RTW Investments has raised its stake in Crinetics Pharmaceuticals by 100,000 shares.
Key Points
- RTW Investments boosted its stake in Crinetics Pharmaceuticals by 7.4%, adding 100,000 shares, for a total of 1,451,326 shares worth $48.63 million.
- Crinetics Pharmaceuticals trades at $33.51 with a market cap of $3.63 billion and no meaningful P/E due to lack of profitability.
- Analysts from Citizens and Evercore ISI Group maintain a 'buy' rating with price targets of $95 and $88, respectively.
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RTW Investments has boosted its holdings in Crinetics Pharmaceuticals, Inc. (NasdaqGS: CRNX) by 100,000 shares. This increase brings its total stake to 1,451,326 shares, valued at approximately $48.63 million. The filing, reflecting the firm's position as of the recent reporting period, shows a 7.4% increase from its previous holding of 1,351,326 shares.
What Changed in RTW Investments' Crinetics Pharmaceuticals Position
RTW Investments expanded its position in Crinetics Pharmaceuticals by adding 100,000 shares. This move raised its total holdings to 1,451,326 shares, marking a 7.4% increase. The value of this stake is approximately $48.63 million, indicating continued confidence in the company's prospects.
Other Institutional Activity in Crinetics Pharmaceuticals
Several other institutional investors also adjusted their positions in Crinetics Pharmaceuticals. FMR LLC increased its holdings by 1,466,024 shares, reaching a total of 15,759,799 shares valued at about $572.4 million. BlackRock, Inc. added 490,267 shares, bringing its total to 8,478,815 shares worth approximately $307.95 million. Farallon Capital Management LLC boosted its stake by 1,405,000 shares, now holding 8,338,098 shares valued at $302.84 million. Wellington Management Group LLP modestly increased its position by 119,315 shares, totaling 8,157,204 shares valued at $296.27 million.
Crinetics Pharmaceuticals, Inc. Stock Down 55.9%
Shares of Crinetics Pharmaceuticals are trading at $33.51. The company has a market capitalization of $3.63 billion but lacks a meaningful P/E ratio due to its unprofitability. The stock's beta is 0.239, indicating lower volatility compared to the market. It has a 52-week low of $25.83 and a high of $57.99, with a 50-day moving average of $37.46 and a 200-day moving average of $41.65. The company maintains a strong liquidity position with a current ratio of 18.60 and a quick ratio of 18.25, alongside a debt-to-equity ratio of 3.74.
$CRNX stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
In its most recent earnings report, Crinetics Pharmaceuticals reported revenue of $18.07 million, reflecting a growth of 28.7%. However, the company's net margin remains at 0, and its return on equity is negative at -39.17%. The next earnings announcement is scheduled for May 7, 2026.
Insider Buying and Selling at Crinetics Pharmaceuticals, Inc.
Insider activity at Crinetics Pharmaceuticals included several transactions. On May 29, 2026, President and CEO Dr. R. Scott Struthers both sold and bought 968,800 shares. On April 8, 2026, Chief Development and Operating Officer Jeff Knight sold 85,163 shares at an average price of $40.10 under a planned transaction, while also purchasing 78,434 shares at $22.42.
Analysts Set New Price Targets
Analysts have been active in setting new price targets for Crinetics Pharmaceuticals. On June 11, 2026, Citizens reiterated its 'buy' rating with a price target of $95. On May 15, 2026, Evercore ISI Group maintained its 'buy' rating with a target of $88. Oppenheimer also maintained a 'buy' rating with a target of $84 on May 11, 2026. Overall, the consensus remains strong with a 'strong buy' recommendation, an average target price of $83.14, and 14 analyst opinions.
About Crinetics Pharmaceuticals
Crinetics Pharmaceuticals, Inc. is a biotechnology company based in San Diego, California. It focuses on developing treatments for rare endocrine diseases and endocrine-related tumors. The company's lead drug candidate, Paltusotine, is in Phase 3 trials for acromegaly and carcinoid syndrome. Crinetics is also working on other innovative therapies, including Atumelnant for ACTH-related diseases and CRN09682 for solid tumors. Founded in 2008, the company is led by CEO Dr. R. Scott Struthers and employs around 594 people.
Bottom Line
RTW Investments' increased stake in Crinetics Pharmaceuticals highlights ongoing interest in the company's potential, despite its lack of profitability. Investors and analysts are closely watching Crinetics, especially with its diverse pipeline of treatments for rare diseases. The recent 13F filing offers a backward-looking view of RTW's position, which may have changed since the reporting period.
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