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

Segall Bryant & Hamill LLC purchased a new stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 150,398 shares of the company's stock, valued at approximately $7,690,000. Segall Bryant & Hamill LLC owned about 0.16% of Crinetics Pharmaceuticals at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRNX. Venturi Wealth Management LLC acquired a new position in shares of Crinetics Pharmaceuticals during the 4th quarter worth approximately $41,000. Harvest Fund Management Co. Ltd bought a new position in Crinetics Pharmaceuticals during the fourth quarter worth $66,000. Advisors Asset Management Inc. increased 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 valued at $143,000 after purchasing an additional 1,008 shares during the last quarter. KBC Group NV raised its position in shares of Crinetics Pharmaceuticals by 69.3% in the fourth quarter. KBC Group NV now owns 3,712 shares of the company's stock valued at $190,000 after purchasing an additional 1,519 shares during the period. Finally, Commerce Bank acquired a new stake in shares of Crinetics Pharmaceuticals during the 3rd quarter worth about $212,000. Institutional investors own 98.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JMP Securities reiterated a "market outperform" rating and issued a $87.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, December 16th. Wolfe Research started coverage on Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They issued a "peer perform" rating on the stock. TD Cowen assumed coverage on Crinetics Pharmaceuticals in a report on Tuesday, February 11th. They set a "buy" rating for the company. HC Wainwright restated a "buy" rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a research note on Monday, January 13th. Finally, Stifel Nicolaus started coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, March 25th. They set a "buy" rating and a $60.00 target price on the stock. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $73.00.

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Insider Activity at Crinetics Pharmaceuticals

In related news, insider Dana Pizzuti sold 2,515 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $86,013.00. Following the completion of the sale, the insider now owns 72,233 shares of the company's stock, valued at $2,470,368.60. This trade represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard Scott Struthers sold 17,338 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $592,959.60. Following the completion of the sale, the chief executive officer now owns 329,147 shares of the company's stock, valued at approximately $11,256,827.40. The trade was a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,015 shares of company stock worth $1,119,263 over the last three months. Company insiders own 6.00% of the company's stock.

Crinetics Pharmaceuticals Stock Performance

Shares of Crinetics Pharmaceuticals stock traded down $1.19 on Monday, hitting $33.54. The stock had a trading volume of 2,425,830 shares, compared to its average volume of 836,396. The stock has a 50 day moving average of $35.94 and a 200 day moving average of $47.39. The firm has a market capitalization of $3.12 billion, a P/E ratio of -8.99 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a twelve month low of $31.65 and a twelve month high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.04. Equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

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.