Crinetics Pharmaceuticals (NASDAQ:CRNX) Director Sells $120,000.00 in Stock

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Director Coelho Rogerio Vivaldi sold 3,000 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the sale, the director owned 19,225 shares of the company’s stock, valued at approximately $769,000. This trade represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Crinetics Pharmaceuticals Trading Up 98.7%

Shares of Crinetics Pharmaceuticals stock traded up $41.50 during trading on Tuesday, reaching $83.53. The company’s stock had a trading volume of 80,918,204 shares, compared to its average volume of 1,911,758. The stock has a 50-day moving average price of $36.77 and a two-hundred day moving average price of $41.51. The stock has a market capitalization of $8.81 billion, a P/E ratio of -16.28 and a beta of 0.23. Crinetics Pharmaceuticals, Inc. has a one year low of $25.83 and a one year high of $83.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($1.23) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $10.73 million during the quarter, compared to analyst estimates of $8.51 million. During the same quarter in the previous year, the business posted ($1.04) EPS. The company’s revenue was up 2873.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -4.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CRNX. Glenmede Trust Co. NA grew its holdings in Crinetics Pharmaceuticals by 72.6% during the first quarter. Glenmede Trust Co. NA now owns 29,245 shares of the company’s stock valued at $1,062,000 after purchasing an additional 12,301 shares during the period. Janus Henderson Group PLC raised its holdings in Crinetics Pharmaceuticals by 1.8% in the first quarter. Janus Henderson Group PLC now owns 4,520,251 shares of the company’s stock worth $164,227,000 after purchasing an additional 79,560 shares during the period. ADAR1 Capital Management LLC raised its holdings in Crinetics Pharmaceuticals by 268.3% in the first quarter. ADAR1 Capital Management LLC now owns 1,139,331 shares of the company’s stock worth $41,381,000 after purchasing an additional 829,963 shares during the period. Amundi boosted its position in shares of Crinetics Pharmaceuticals by 131.8% during the first quarter. Amundi now owns 13,034 shares of the company’s stock worth $473,000 after purchasing an additional 7,412 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Crinetics Pharmaceuticals by 23.4% during the first quarter. California State Teachers Retirement System now owns 105,563 shares of the company’s stock worth $3,834,000 after purchasing an additional 19,995 shares in the last quarter. Institutional investors own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

CRNX has been the subject of a number of research reports. Citizens Jmp reiterated a “market outperform” rating and issued a $95.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Thursday, June 11th. Oppenheimer restated a “market perform” rating on shares of Crinetics Pharmaceuticals in a report on Tuesday. Robert W. Baird raised their price objective on shares of Crinetics Pharmaceuticals from $62.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday. UBS Group initiated coverage on shares of Crinetics Pharmaceuticals in a report on Thursday, July 2nd. They set a “buy” rating and a $55.00 target price for the company. Finally, JonesTrading reiterated a “hold” rating and set a $85.00 target price on shares of Crinetics Pharmaceuticals in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.27.

Key Crinetics Pharmaceuticals News

Here are the key news stories impacting Crinetics Pharmaceuticals this week:

• Positive Sentiment: Vertex agreed to acquire Crinetics in an all-cash deal at $85 per share, creating a clear takeover premium for CRNX shareholders. Vertex to Acquire Crinetics Pharmaceuticals
• Positive Sentiment: JonesTrading, Jefferies, and Robert W. Baird all raised or reaffirmed targets at $85, signaling Wall Street now sees the stock near the deal value. Analyst updates via Benzinga
• Neutral Sentiment: Unusual options activity showed heavy put buying, which may reflect traders hedging uncertainty around deal completion or timing.
• Negative Sentiment: Law firms have begun investigating whether Crinetics’ board secured a fair price for shareholders, which could add legal noise around the acquisition. Shareholder Notice: Brodsky & Smith Investigation

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.