Segall Bryant & Hamill LLC Buys 30,243 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

Segall Bryant & Hamill LLC increased its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 20.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 176,517 shares of the company’s stock after buying an additional 30,243 shares during the quarter. Segall Bryant & Hamill LLC owned about 0.19% of Crinetics Pharmaceuticals worth $5,077,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CRNX. Penserra Capital Management LLC bought a new stake in shares of Crinetics Pharmaceuticals in the 2nd quarter worth about $48,000. Kestra Investment Management LLC bought a new position in Crinetics Pharmaceuticals during the 1st quarter valued at about $95,000. Mirae Asset Global Investments Co. Ltd. raised its position in Crinetics Pharmaceuticals by 16.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,619 shares of the company’s stock worth $104,000 after purchasing an additional 505 shares during the period. PNC Financial Services Group Inc. lifted its stake in Crinetics Pharmaceuticals by 25.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,395 shares of the company’s stock worth $114,000 after purchasing an additional 688 shares during the last quarter. Finally, Strs Ohio bought a new stake in Crinetics Pharmaceuticals in the first quarter worth about $124,000. Institutional investors own 98.51% of the company’s stock.

Insider Activity at Crinetics Pharmaceuticals

In other news, insider Dana Pizzuti sold 5,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $42.66, for a total value of $213,300.00. Following the completion of the transaction, the insider directly owned 66,270 shares of the company’s stock, valued at approximately $2,827,078.20. The trade was a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard Scott Struthers sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $45.00, for a total value of $180,000.00. Following the sale, the chief executive officer directly owned 106,000 shares in the company, valued at approximately $4,770,000. The trade was a 3.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,000 shares of company stock valued at $1,318,350 over the last ninety days. 6.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on CRNX shares. Morgan Stanley upped their target price on Crinetics Pharmaceuticals from $65.00 to $77.00 and gave the company an “overweight” rating in a research note on Monday, September 29th. Robert W. Baird boosted their price objective on Crinetics Pharmaceuticals from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, September 26th. JMP Securities increased their target price on Crinetics Pharmaceuticals from $86.00 to $143.00 and gave the stock a “market outperform” rating in a research note on Friday, September 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Wednesday, October 8th. Finally, Oppenheimer boosted their target price on shares of Crinetics Pharmaceuticals from $73.00 to $87.00 and gave the company an “outperform” rating in a research note on Tuesday, September 30th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Crinetics Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $77.55.

Crinetics Pharmaceuticals Trading Up 2.1%

CRNX opened at $42.86 on Monday. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -9.46 and a beta of 0.25. Crinetics Pharmaceuticals, Inc. has a 12-month low of $24.10 and a 12-month high of $60.34. The business’s fifty day simple moving average is $41.25 and its 200-day simple moving average is $34.56.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.27) by ($0.11). The company had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.39 million. During the same period in the previous year, the business posted ($0.96) earnings per share. On average, equities research analysts predict that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current year.

Crinetics Pharmaceuticals Company 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.