8,206 Shares in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Purchased by Cibc World Markets Corp

Cibc World Markets Corp acquired a new position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,206 shares of the company’s stock, valued at approximately $420,000.

Other large investors also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Crinetics Pharmaceuticals by 2.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,633 shares of the company’s stock worth $1,054,000 after purchasing an additional 505 shares during the period. Swiss National Bank boosted its stake in Crinetics Pharmaceuticals by 0.5% in the 3rd quarter. Swiss National Bank now owns 130,900 shares of the company’s stock worth $6,689,000 after purchasing an additional 600 shares during the period. Janney Montgomery Scott LLC boosted its stake in Crinetics Pharmaceuticals by 13.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,975 shares of the company’s stock worth $254,000 after purchasing an additional 600 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in 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 worth $1,945,000 after purchasing an additional 708 shares during the period. Finally, Venturi Wealth Management LLC bought a new position in Crinetics Pharmaceuticals in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 98.51% of the company’s stock.

Crinetics Pharmaceuticals Trading Up 0.3 %

Shares of NASDAQ CRNX opened at $34.42 on Monday. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of -9.23 and a beta of 0.58. Crinetics Pharmaceuticals, Inc. has a 1-year low of $31.84 and a 1-year high of $62.53. The stock’s 50-day moving average is $36.22 and its 200 day moving average is $48.07.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. On average, analysts forecast that Crinetics Pharmaceuticals, Inc. will post -3.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at Crinetics Pharmaceuticals

In other Crinetics Pharmaceuticals news, COO Jeff E. Knight sold 7,162 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $34.20, for a total value of $244,940.40. Following the transaction, the chief operating officer now directly owns 87,491 shares of the company’s stock, valued at $2,992,192.20. The trade was a 7.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Scott Struthers sold 17,338 shares of Crinetics Pharmaceuticals stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 329,147 shares in the company, valued at $11,256,827.40. This trade represents a 5.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,015 shares of company stock valued at $1,119,263. Corporate 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.