Segall Bryant & Hamill LLC Sells 9,365 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

Segall Bryant & Hamill LLC trimmed its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 180,112 shares of the company’s stock after selling 9,365 shares during the period. Segall Bryant & Hamill LLC owned about 0.17% of Crinetics Pharmaceuticals worth $6,542,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in shares of Crinetics Pharmaceuticals by 107.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after purchasing an additional 331 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Crinetics Pharmaceuticals in the second quarter worth approximately $30,000. Parallel Advisors LLC grew its position in Crinetics Pharmaceuticals by 34.6% during the fourth quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock valued at $57,000 after buying an additional 315 shares during the period. Arax Advisory Partners increased its holdings in Crinetics Pharmaceuticals by 131.2% during the fourth quarter. Arax Advisory Partners now owns 1,498 shares of the company’s stock valued at $70,000 after buying an additional 850 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Crinetics Pharmaceuticals during the 2nd quarter valued at $45,000. 98.51% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CRNX has been the topic of several research analyst reports. UBS Group restated a “neutral” rating and issued a $85.00 price objective (up from $55.00) on shares of Crinetics Pharmaceuticals in a research report on Tuesday, July 28th. Jefferies Financial Group downgraded Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and lifted their target price for the company from $55.00 to $85.00 in a research note on Tuesday, July 7th. Citizens Jmp cut Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Oppenheimer restated a “market perform” rating on shares of Crinetics Pharmaceuticals in a research note on Tuesday, July 7th. Finally, JonesTrading lowered shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and set a $85.00 price objective for the company. in a report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.00.

Crinetics Pharmaceuticals Stock Performance

CRNX stock opened at $83.52 on Monday. The firm has a fifty 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 firm has a market cap of $8.81 billion, a PE ratio of -16.28 and a beta of 0.23.

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

Insider Activity

In other Crinetics Pharmaceuticals news, Director Coelho Rogerio Vivaldi sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the sale, the director directly owned 19,225 shares of the company’s stock, valued at $769,000. The trade was a 13.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephanie Okey sold 6,900 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 6,400 shares in the company, valued at $228,288. The trade was a 51.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is currently owned by corporate insiders.

Crinetics Pharmaceuticals Company Profile

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.