SG Americas Securities LLC Sells 12,218 Shares of Crinetics Pharmaceuticals, Inc. $CRNX

SG Americas Securities LLC trimmed its position in shares of Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 56.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,571 shares of the company’s stock after selling 12,218 shares during the quarter. SG Americas Securities LLC’s holdings in Crinetics Pharmaceuticals were worth $348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Crinetics Pharmaceuticals by 11.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,311 shares of the company’s stock valued at $1,995,000 after buying an additional 6,148 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Crinetics Pharmaceuticals by 6.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 347,581 shares of the company’s stock worth $11,658,000 after acquiring an additional 22,305 shares during the last quarter. Strs Ohio acquired a new position in Crinetics Pharmaceuticals in the 1st quarter valued at approximately $124,000. Invesco Ltd. raised its stake in shares of Crinetics Pharmaceuticals by 11.7% during the second quarter. Invesco Ltd. now owns 78,140 shares of the company’s stock valued at $2,247,000 after acquiring an additional 8,181 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Crinetics Pharmaceuticals by 20.6% during the second quarter. Sei Investments Co. now owns 60,180 shares of the company’s stock valued at $1,731,000 after acquiring an additional 10,269 shares during the last quarter. 98.51% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on CRNX shares. Lifesci Capital cut shares of Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Piper Sandler downgraded Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Evercore downgraded Crinetics Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday. JonesTrading lowered Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and set a $85.00 price target on the stock. in a research report on Tuesday. Finally, Jefferies Financial Group cut Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and increased their price target for the company from $55.00 to $85.00 in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $78.27.

Key Crinetics Pharmaceuticals News

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.

Crinetics Pharmaceuticals Price Performance

Shares of NASDAQ:CRNX opened at $83.62 on Friday. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of -16.30 and a beta of 0.23. The business’s 50-day moving average is $39.48 and its 200-day moving average is $42.28. Crinetics Pharmaceuticals, Inc. has a 1 year low of $25.83 and a 1 year high of $83.63.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last released 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 business had revenue of $10.73 million for the quarter, compared to analyst estimates of $8.51 million. During the same period in the prior year, the business earned ($1.04) EPS. The company’s revenue for the quarter was up 2873.4% on a year-over-year basis. Analysts anticipate that Crinetics Pharmaceuticals, Inc. will post -4.86 EPS for the current year.

Insider Activity at Crinetics Pharmaceuticals

In related news, Director Stephanie Okey sold 6,900 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $35.67, for a total transaction of $246,123.00. Following the transaction, the director directly owned 6,400 shares of the company’s stock, valued at $228,288. This represents a 51.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Coelho Rogerio Vivaldi sold 3,000 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $40.00, for a total transaction of $120,000.00. Following the completion of the sale, the director owned 19,225 shares of the company’s stock, valued at $769,000. The trade was a 13.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.80% 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.