Segall Bryant & Hamill LLC Reduces Holdings in Crinetics Pharmaceuticals, Inc. $CRNX

Segall Bryant & Hamill LLC decreased its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 4.9% during the first quarter, HoldingsChannel reports. The fund owned 180,112 shares of the company’s stock after selling 9,365 shares during the quarter. Segall Bryant & Hamill LLC’s holdings in Crinetics Pharmaceuticals were worth $6,542,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRNX. Aberdeen Group plc grew its holdings in Crinetics Pharmaceuticals by 98.4% during the 4th quarter. Aberdeen Group plc now owns 674,533 shares of the company’s stock valued at $31,400,000 after purchasing an additional 334,584 shares during the last quarter. UBS Group AG lifted its stake in Crinetics Pharmaceuticals by 122.7% in the fourth quarter. UBS Group AG now owns 908,192 shares of the company’s stock worth $42,276,000 after purchasing an additional 500,470 shares during the last quarter. GW&K Investment Management LLC boosted its position in shares of Crinetics Pharmaceuticals by 73.6% during the fourth quarter. GW&K Investment Management LLC now owns 1,476,325 shares of the company’s stock valued at $68,723,000 after buying an additional 625,779 shares during the period. Sector Gamma AS purchased a new position in shares of Crinetics Pharmaceuticals during the fourth quarter valued at approximately $5,353,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Crinetics Pharmaceuticals by 5.3% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 408,312 shares of the company’s stock valued at $19,007,000 after buying an additional 20,387 shares during the last quarter. Institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Stock Performance

Crinetics Pharmaceuticals stock opened at $83.52 on Monday. The company has a 50 day moving average price of $54.15 and a 200-day moving average price of $46.18. Crinetics Pharmaceuticals, Inc. has a fifty-two week low of $25.83 and a fifty-two week high of $84.00. The company has a market capitalization of $8.81 billion, a PE ratio of -16.28 and a beta of 0.23.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($0.01). The firm had revenue of $10.73 million during the quarter, compared to the consensus estimate of $8.51 million. Crinetics Pharmaceuticals had a negative return on equity of 43.96% and a negative net margin of 2,747.18%.The firm’s revenue for the quarter was up 2873.4% compared to the same quarter last year. During the same period last year, the company earned ($1.04) EPS. On average, analysts forecast that Crinetics Pharmaceuticals, Inc. will post -4.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRNX. Jefferies Financial Group downgraded Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and increased their price target for the stock from $55.00 to $85.00 in a report on Tuesday, July 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a research report on Friday, July 17th. TD Cowen lowered Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 8th. HC Wainwright downgraded Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and lifted their target price for the stock from $81.00 to $85.00 in a research report on Tuesday, July 7th. Finally, Lifesci Capital lowered shares of Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $81.00.

Insider Buying and Selling at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, Director Coelho Rogerio Vivaldi sold 3,000 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the director directly owned 19,225 shares in the company, valued at approximately $769,000. This represents a 13.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Okey sold 6,900 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $35.67, for a total value of $246,123.00. Following the transaction, the director directly owned 6,400 shares in the company, valued at $228,288. The trade was a 51.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is currently owned by corporate insiders.

About Crinetics Pharmaceuticals

Crinetics Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel therapeutics for rare endocrine diseases. The company’s proprietary platform leverages insights into hormone receptor signaling to design small-molecule candidates that address conditions driven by dysregulated hormone activity. Crinetics’ research efforts center on targeting somatostatin, vasopressin and other GPCR-mediated pathways with orally bioavailable molecules intended to improve patient convenience and adherence.

The company’s lead product candidate, paltusotine (formerly CRN04777), is a selective, non-peptide somatostatin receptor type 2 agonist being evaluated for the treatment of acromegaly and carcinoid syndrome diarrhea.