Segall Bryant & Hamill LLC Acquires New Shares in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Segall Bryant & Hamill LLC bought a new position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) during the 4th quarter, HoldingsChannel reports. The firm bought 150,398 shares of the company’s stock, valued at approximately $7,690,000.

A number of other large investors have also recently made changes to their positions in the stock. Swiss National Bank raised its stake in shares of Crinetics Pharmaceuticals by 0.5% during the 3rd quarter. Swiss National Bank now owns 130,900 shares of the company’s stock valued at $6,689,000 after purchasing an additional 600 shares during the period. Commerce Bank purchased a new position in Crinetics Pharmaceuticals during the 3rd quarter valued at about $212,000. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Crinetics Pharmaceuticals by 2.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company’s stock valued at $1,054,000 after buying an additional 505 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Crinetics Pharmaceuticals by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 2,806 shares of the company’s stock worth $143,000 after buying an additional 1,008 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Crinetics Pharmaceuticals in the third quarter valued at approximately $1,142,000. 98.51% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CRNX. JMP Securities reaffirmed a “market outperform” rating and set a $87.00 target price on shares of Crinetics Pharmaceuticals in a report on Monday, December 16th. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Wednesday, January 22nd. Stifel Nicolaus assumed coverage on Crinetics Pharmaceuticals in a research note on Tuesday. They issued a “buy” rating and a $60.00 target price on the stock. Wolfe Research initiated coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating for the company. Finally, TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Crinetics Pharmaceuticals Price Performance

Shares of CRNX stock opened at $34.51 on Thursday. The business has a 50-day moving average of $36.10 and a 200 day moving average of $47.77. Crinetics Pharmaceuticals, Inc. has a 1-year low of $31.84 and a 1-year high of $62.53. The stock has a market capitalization of $3.21 billion, a PE ratio of -9.25 and a beta of 0.58.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. Analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Insider Activity

In related news, insider Dana Pizzuti sold 5,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $39.07, for a total value of $195,350.00. Following the sale, the insider now directly owns 31,748 shares of the company’s stock, valued at $1,240,394.36. This represents a 13.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Scott Struthers sold 17,338 shares of Crinetics Pharmaceuticals stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $592,959.60. Following the transaction, the chief executive officer now directly owns 329,147 shares of the company’s stock, valued at approximately $11,256,827.40. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,015 shares of company stock valued at $1,119,263. Corporate insiders own 6.00% of the company’s stock.

Crinetics Pharmaceuticals Profile

Crinetics Pharmaceuticals, Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel therapeutics for rare endocrine diseases and endocrine-related tumors. The company's lead product candidate is paltusotine, an oral selective nonpeptide somatostatin receptor type 2 agonist, which is in Phase 3 trial for the treatment of acromegaly; and Phase 2 trial for treating carcinoid syndrome associated with neuroendocrine tumors.