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

Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) Director Coelho Rogerio Vivaldi sold 3,000 shares of the company’s 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 sale, the director directly owned 19,225 shares of the company’s stock, valued at $769,000. The trade was a 13.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Crinetics Pharmaceuticals Stock Performance

Shares of NASDAQ:CRNX opened at $83.49 on Thursday. The company has a market cap of $8.80 billion, a P/E ratio of -16.27 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. The business’s 50-day simple moving average is $38.57 and its 200 day simple moving average is $42.03.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($1.23) earnings per share 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 during the quarter, compared to analysts’ expectations of $8.51 million. The firm’s revenue was up 2873.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.04) EPS. Analysts predict that Crinetics Pharmaceuticals, Inc. will post -4.86 earnings per share for the current year.

More Crinetics Pharmaceuticals News

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

• Positive Sentiment: Vertex’s $85-per-share cash acquisition offers shareholders a large premium and sets a clear takeout value for Crinetics Pharmaceuticals (CRNX). Article Title
• Positive Sentiment: Crinetics’ approved PALSONIFY and its Phase 3 pipeline asset Atumelnant make the company strategically attractive as Vertex expands beyond cystic fibrosis. Article Title
• Neutral Sentiment: Multiple analysts reassessed the stock around the deal, with several price targets clustering near $85, suggesting limited upside beyond the offer price. Article Title
• Negative Sentiment: Law firms have launched shareholder investigations into whether the board obtained a fair price and ran a fair sale process, which could create legal overhang. Article Title
• Negative Sentiment: Several brokerage downgrades and insider-selling headlines may add caution, though they are secondary to the acquisition news. Article Title

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Crinetics Pharmaceuticals in a research note on Tuesday. Robert W. Baird raised their target price on Crinetics Pharmaceuticals from $62.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday. HC Wainwright lowered Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and lifted their target price for the stock from $81.00 to $85.00 in a research report on Tuesday. UBS Group started coverage on Crinetics Pharmaceuticals in a research note on Thursday, July 2nd. They issued a “buy” rating and a $55.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Crinetics Pharmaceuticals in a report on Monday, April 20th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $78.27.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC increased its holdings in Crinetics Pharmaceuticals by 107.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 639 shares of the company’s stock valued at $30,000 after buying an additional 331 shares during the last quarter. Headlands Technologies LLC bought a new position in Crinetics Pharmaceuticals during the 2nd quarter worth approximately $30,000. Raymond James Financial Inc. acquired a new position in shares of Crinetics Pharmaceuticals in the 2nd quarter worth approximately $45,000. Parallel Advisors LLC grew its position 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 worth $57,000 after acquiring an additional 315 shares in the last quarter. Finally, Arax Advisory Partners increased its holdings in shares of Crinetics Pharmaceuticals by 131.2% in the 4th quarter. Arax Advisory Partners now owns 1,498 shares of the company’s stock valued at $70,000 after acquiring an additional 850 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

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.