Insider Selling: 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 Crinetics Pharmaceuticals stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $40.00, for a total value of $120,000.00. Following the completion of the transaction, the director directly owned 19,225 shares in the company, valued at $769,000. This represents a 13.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Crinetics Pharmaceuticals Trading Up 0.2%

CRNX stock opened at $83.62 on Friday. Crinetics Pharmaceuticals, Inc. has a one year low of $25.83 and a one year high of $83.63. The firm has a market capitalization of $8.82 billion, a PE ratio of -16.30 and a beta of 0.23. The firm has a 50-day moving average of $39.48 and a two-hundred day moving average of $42.28.

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

Analyst Ratings Changes

CRNX has been the subject of a number of research analyst reports. Oppenheimer restated a “market perform” rating on shares of Crinetics Pharmaceuticals in a report on Tuesday. Lifesci Capital lowered Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird increased their price objective on Crinetics Pharmaceuticals from $62.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday. UBS Group initiated coverage on Crinetics Pharmaceuticals in a research report on Thursday, July 2nd. They set a “buy” rating and a $55.00 price objective for the company. Finally, HC Wainwright cut Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and lifted their target price for the company from $81.00 to $85.00 in a research note on Tuesday. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $78.27.

Key Stories Impacting Crinetics Pharmaceuticals

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

• Positive Sentiment: Vertex’s definitive agreement to buy Crinetics at $85 per share is the biggest catalyst, giving shareholders a substantial premium and pushing the stock toward the offer price. Article Title
• Positive Sentiment: The deal underscores the value of Crinetics’ rare-disease asset base, including approved drug PALSONIFY and late-stage candidate Atumelnant, which made the company attractive as a strategic acquisition target.
• Positive Sentiment: Unusually heavy call-option buying suggests traders are positioning for continued strength and potential deal-driven upside.
• Neutral Sentiment: Multiple analysts have recently downgraded the stock to “hold,” reflecting that the shares are now trading close to the acquisition value and leaving less room for further upside.
• Negative Sentiment: Several investor-law-firm announcements and an M&A class action investigation may create headline risk around the proposed sale process, even though these probes are common after large takeovers.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Parkman Healthcare Partners LLC increased its position in Crinetics Pharmaceuticals by 0.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 73,725 shares of the company’s stock worth $3,071,000 after purchasing an additional 313 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Crinetics Pharmaceuticals by 34.6% in the 4th quarter. Parallel Advisors LLC now owns 1,225 shares of the company’s stock valued at $57,000 after buying an additional 315 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Crinetics Pharmaceuticals by 107.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after buying an additional 331 shares in the last quarter. Brooklyn Investment Group increased its holdings in Crinetics Pharmaceuticals by 6.3% in the fourth quarter. Brooklyn Investment Group now owns 5,890 shares of the company’s stock worth $280,000 after buying an additional 348 shares during the last quarter. Finally, Commerce Bank raised its position in Crinetics Pharmaceuticals by 5.9% during the fourth quarter. Commerce Bank now owns 8,019 shares of the company’s stock valued at $373,000 after acquiring an additional 444 shares in the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.

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.