Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Free Report) by 66.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,898 shares of the company's stock after selling 13,735 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Crinetics Pharmaceuticals were worth $353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank grew its position in Crinetics Pharmaceuticals by 0.5% during the third quarter. Swiss National Bank now owns 130,900 shares of the company's stock valued at $6,689,000 after buying an additional 600 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Crinetics Pharmaceuticals by 13.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company's stock valued at $254,000 after acquiring an additional 600 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of Crinetics Pharmaceuticals by 1.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 38,049 shares of the company's stock valued at $1,945,000 after purchasing an additional 708 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Crinetics Pharmaceuticals in the 4th quarter worth about $41,000. Finally, Oppenheimer Asset Management Inc. boosted its position in Crinetics Pharmaceuticals by 19.5% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 5,038 shares of the company's stock worth $258,000 after purchasing an additional 822 shares in the last quarter. Institutional investors and hedge funds own 98.51% of the company's stock.

Remove Ads

Crinetics Pharmaceuticals Trading Up 1.1 %

NASDAQ CRNX traded up $0.39 on Thursday, reaching $34.90. 548,545 shares of the company were exchanged, compared to its average volume of 816,962. The business's fifty day moving average price is $36.10 and its 200 day moving average price is $47.77. The stock has a market capitalization of $3.25 billion, a P/E ratio of -9.36 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $31.84 and a fifty-two week high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced 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. Equities research analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 earnings per share for the current year.

Analyst Ratings Changes

CRNX has been the subject of several research analyst reports. TD Cowen started coverage on Crinetics Pharmaceuticals in a research note on Tuesday, February 11th. They set a "buy" rating for the company. Jefferies Financial Group upgraded shares of Crinetics Pharmaceuticals from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research report on Wednesday, January 22nd. JMP Securities reiterated a "market outperform" rating and issued a $87.00 target price on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. HC Wainwright restated a "buy" rating and set a $81.00 price target on shares of Crinetics Pharmaceuticals in a research report on Monday, January 13th. Finally, Stifel Nicolaus started coverage on Crinetics Pharmaceuticals in a report on Tuesday. They issued a "buy" rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Insider Activity

In other news, CEO Richard Scott Struthers sold 17,338 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total transaction of $592,959.60. Following the completion of the transaction, the chief executive officer now directly owns 329,147 shares in the company, valued at approximately $11,256,827.40. This represents a 5.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dana Pizzuti sold 2,515 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $86,013.00. Following the sale, the insider now directly owns 72,233 shares of the company's stock, valued at $2,470,368.60. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,015 shares of company stock valued at $1,119,263 in the last 90 days. Company 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.