Connor Clark & Lunn Investment Management Ltd. Has $353,000 Position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 66.6% in the 4th quarter, HoldingsChannel reports. The institutional investor 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.

A number of other hedge funds also recently made changes to their positions in CRNX. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Crinetics Pharmaceuticals by 24.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,095 shares of the company’s stock valued at $772,000 after purchasing an additional 2,970 shares during the period. Arizona State Retirement System increased its position in shares of Crinetics Pharmaceuticals by 21.6% during the fourth quarter. Arizona State Retirement System now owns 23,469 shares of the company’s stock worth $1,200,000 after buying an additional 4,168 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Crinetics Pharmaceuticals during the fourth quarter worth $750,000. Assetmark Inc. lifted its holdings in Crinetics Pharmaceuticals by 5.9% in the fourth quarter. Assetmark Inc. now owns 18,161 shares of the company’s stock valued at $929,000 after buying an additional 1,014 shares during the period. Finally, Keybank National Association OH boosted its position in Crinetics Pharmaceuticals by 14.4% during the fourth quarter. Keybank National Association OH now owns 9,352 shares of the company’s stock valued at $478,000 after acquiring an additional 1,176 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Crinetics Pharmaceuticals news, CEO Richard Scott Struthers sold 17,338 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 329,147 shares in the company, valued at $11,256,827.40. The trade was a 5.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dana Pizzuti sold 2,515 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $34.20, for a total transaction of $86,013.00. Following the sale, the insider now directly owns 72,233 shares in the company, valued at approximately $2,470,368.60. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,015 shares of company stock valued at $1,119,263. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $87.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, December 16th. Jefferies Financial Group upgraded Crinetics Pharmaceuticals from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, January 22nd. Wolfe Research began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 4th. They set a “peer perform” rating for the company. TD Cowen began coverage on shares of Crinetics Pharmaceuticals in a research report on Tuesday, February 11th. They set a “buy” rating on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $81.00 price target on shares of Crinetics Pharmaceuticals in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.30.

Crinetics Pharmaceuticals Trading Up 0.3 %

Crinetics Pharmaceuticals stock opened at $34.42 on Monday. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -9.23 and a beta of 0.58. The firm’s fifty day moving average price is $36.22 and its two-hundred day moving average price is $48.07. Crinetics Pharmaceuticals, Inc. has a 1-year low of $31.84 and a 1-year high of $62.53.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its 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. On average, research analysts forecast 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.