Connor Clark & Lunn Investment Management Ltd. Buys 505 Shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX)

Connor Clark & Lunn Investment Management Ltd. grew its stake in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 2.5% in the third quarter, HoldingsChannel.com reports. The fund owned 20,633 shares of the company’s stock after acquiring an additional 505 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Crinetics Pharmaceuticals were worth $1,054,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Jennison Associates LLC increased its stake in shares of Crinetics Pharmaceuticals by 0.5% in the 3rd quarter. Jennison Associates LLC now owns 2,793,614 shares of the company’s stock valued at $142,754,000 after acquiring an additional 13,470 shares during the last quarter. Commerce Bank acquired a new position in shares of Crinetics Pharmaceuticals in the 3rd quarter valued at approximately $212,000. Swiss National Bank grew its position in shares of Crinetics Pharmaceuticals by 0.5% in the 3rd quarter. Swiss National Bank now owns 130,900 shares of the company’s stock valued at $6,689,000 after purchasing an additional 600 shares during the period. Natixis Advisors LLC grew its position in shares of Crinetics Pharmaceuticals by 36.6% in the 3rd quarter. Natixis Advisors LLC now owns 44,346 shares of the company’s stock valued at $2,266,000 after purchasing an additional 11,870 shares during the period. Finally, KBC Group NV grew its position in shares of Crinetics Pharmaceuticals by 22.8% in the 3rd quarter. KBC Group NV now owns 2,193 shares of the company’s stock valued at $112,000 after purchasing an additional 407 shares during the period. 98.51% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Marc Wilson sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $51.11, for a total value of $1,277,750.00. Following the completion of the sale, the chief financial officer now owns 111,092 shares of the company’s stock, valued at approximately $5,677,912.12. This represents a 18.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen F. Betz sold 1,035 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $51.50, for a total value of $53,302.50. Following the completion of the sale, the insider now owns 68,576 shares in the company, valued at approximately $3,531,664. This trade represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,911 shares of company stock valued at $2,144,675. 6.00% of the stock is owned by insiders.

Crinetics Pharmaceuticals Stock Up 1.6 %

NASDAQ:CRNX opened at $57.67 on Thursday. The company has a market cap of $5.35 billion, a P/E ratio of -15.46 and a beta of 0.62. Crinetics Pharmaceuticals, Inc. has a twelve month low of $30.87 and a twelve month high of $62.53. The business has a 50 day moving average price of $55.48 and a two-hundred day moving average price of $51.71.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.05). During the same quarter in the prior year, the business earned ($1.01) earnings per share. As a group, analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -3.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CRNX shares. JMP Securities reiterated a “market outperform” rating and issued a $80.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Friday, September 27th. HC Wainwright boosted their price objective on Crinetics Pharmaceuticals from $69.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Oppenheimer reiterated an “outperform” rating and issued a $73.00 price objective (down from $74.00) on shares of Crinetics Pharmaceuticals in a research report on Friday, August 9th. Citigroup boosted their price objective on Crinetics Pharmaceuticals from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Crinetics Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $70.18.

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.