Crinetics Pharmaceuticals (NASDAQ:CRNX) Director Coelho Rogerio Vivaldi Sells 3,000 Shares of Stock

Key Points

• Director Coelho Rogerio Vivaldi sold 3,000 shares of Crinetics Pharmaceuticals at $40.00 each, totaling $120,000, in a transaction made under a pre-arranged Rule 10b5-1 plan.
• The sale left the director with 19,225 shares, reducing his ownership by 13.5%. The transaction was disclosed in an SEC filing.
• Crinetics shares were trading sharply higher amid broader developments, including a reported Vertex all-cash acquisition offer at $85 per share and multiple analyst price target increases near that level.

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX - Get Free Report) Director Coelho Rogerio Vivaldi sold 3,000 shares of Crinetics Pharmaceuticals stock in a transaction that occurred on 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 approximately $769,000. This represents a 13.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Crinetics Pharmaceuticals Stock Performance

Shares of CRNX traded up $41.50 during mid-day trading on Tuesday, hitting $83.53. The company's stock had a trading volume of 80,918,204 shares, compared to its average volume of 1,911,758. 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 $8.81 billion, a PE ratio of -16.28 and a beta of 0.23. The stock's 50-day moving average is $36.77 and its two-hundred day moving average is $41.51.

Crinetics Pharmaceuticals (NASDAQ:CRNX - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($1.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $10.73 million for the quarter, compared to the consensus estimate of $8.51 million. During the same period last year, the firm posted ($1.04) EPS. The company's revenue was up 2873.4% compared to the same quarter last year. Analysts expect that Crinetics Pharmaceuticals, Inc. will post -4.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Crinetics Pharmaceuticals

Several large investors have recently made changes to their positions in the company. First Light Asset Management LLC grew its stake in Crinetics Pharmaceuticals by 9.0% during the third quarter. First Light Asset Management LLC now owns 941,516 shares of the company's stock worth $39,214,000 after buying an additional 77,380 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Crinetics Pharmaceuticals by 279.2% in the third quarter. JPMorgan Chase & Co. now owns 1,258,722 shares of the company's stock valued at $52,426,000 after acquiring an additional 926,765 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Crinetics Pharmaceuticals in the 3rd quarter worth approximately $2,841,000. Aberdeen Group plc boosted its holdings in shares of Crinetics Pharmaceuticals by 98.4% in the 4th quarter. Aberdeen Group plc now owns 674,533 shares of the company's stock worth $31,400,000 after acquiring an additional 334,584 shares in the last quarter. Finally, Farallon Capital Management LLC grew its position in Crinetics Pharmaceuticals by 24.2% during the 3rd quarter. Farallon Capital Management LLC now owns 5,770,098 shares of the company's stock worth $240,325,000 after acquiring an additional 1,124,000 shares during the last quarter. Institutional investors own 98.51% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CRNX. HC Wainwright restated a "neutral" rating and set a $85.00 price target (up from $81.00) on shares of Crinetics Pharmaceuticals in a research note on Tuesday. Robert W. Baird lifted their price objective on Crinetics Pharmaceuticals from $62.00 to $85.00 and gave the stock an "outperform" rating in a report on Tuesday. Citizens Jmp restated a "market outperform" rating and set a $95.00 price objective on shares of Crinetics Pharmaceuticals in a research report on Thursday, June 11th. UBS Group assumed coverage on Crinetics Pharmaceuticals in a research note on Thursday, July 2nd. They issued a "buy" rating and a $55.00 target price for the company. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $85.00 price target (up from $55.00) on shares of Crinetics Pharmaceuticals in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $78.27.

Key Stories Impacting Crinetics Pharmaceuticals

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.

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