SG Americas Securities LLC Has $348,000 Stock Position in Crinetics Pharmaceuticals, Inc. $CRNX

SG Americas Securities LLC lowered its position in Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) by 56.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,571 shares of the company’s stock after selling 12,218 shares during the period. SG Americas Securities LLC’s holdings in Crinetics Pharmaceuticals were worth $348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRNX. Rockefeller Capital Management L.P. raised its position in shares of Crinetics Pharmaceuticals by 12.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 4,679 shares of the company’s stock worth $218,000 after purchasing an additional 521 shares during the period. Invesco Ltd. grew its position in Crinetics Pharmaceuticals by 76.8% in the 4th quarter. Invesco Ltd. now owns 158,089 shares of the company’s stock valued at $7,359,000 after purchasing an additional 68,696 shares during the period. ADAR1 Capital Management LLC increased its stake in Crinetics Pharmaceuticals by 24.6% during the 4th quarter. ADAR1 Capital Management LLC now owns 309,368 shares of the company’s stock valued at $14,401,000 after purchasing an additional 61,000 shares in the last quarter. Virtus Investment Advisers LLC increased its stake in Crinetics Pharmaceuticals by 282.7% during the 4th quarter. Virtus Investment Advisers LLC now owns 13,535 shares of the company’s stock valued at $630,000 after purchasing an additional 9,998 shares in the last quarter. Finally, Progeny 3 Inc. acquired a new position in Crinetics Pharmaceuticals during the fourth quarter worth $1,117,000. Institutional investors own 98.51% of the company’s stock.

Analyst Upgrades and Downgrades

CRNX has been the topic of a number of recent research reports. Jefferies Financial Group lowered shares of Crinetics Pharmaceuticals from a “buy” rating to a “hold” rating and raised their price objective for the company from $55.00 to $85.00 in a research note on Tuesday. UBS Group assumed coverage on shares of Crinetics Pharmaceuticals in a report on Thursday, July 2nd. They issued a “buy” rating and a $55.00 target price on the stock. Robert W. Baird raised their price target on shares of Crinetics Pharmaceuticals from $62.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday. Cantor Fitzgerald downgraded Crinetics Pharmaceuticals from an “overweight” rating to a “hold” rating in a research note on Tuesday. Finally, Wall Street Zen raised Crinetics Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Sunday, May 17th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Crinetics Pharmaceuticals has an average rating of “Hold” and an average price target of $78.27.

Insiders Place Their Bets

In other news, Director Coelho Rogerio Vivaldi sold 3,000 shares of the company’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 transaction, the director owned 19,225 shares of the company’s stock, valued at $769,000. This represents a 13.50% decrease in their position. The sale was disclosed in a filing 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. Also, Director Stephanie Okey sold 6,900 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $35.67, for a total value of $246,123.00. Following the transaction, the director owned 6,400 shares of the company’s stock, valued at $228,288. The trade was a 51.88% decrease in their position. 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 Stock Up 0.2%

Crinetics Pharmaceuticals stock opened at $83.62 on Friday. The firm has a 50 day moving average price of $39.48 and a 200-day moving average price of $42.28. Crinetics Pharmaceuticals, Inc. has a twelve month low of $25.83 and a twelve month high of $83.63. The company has a market capitalization of $8.82 billion, a P/E ratio of -16.30 and a beta of 0.23.

Crinetics Pharmaceuticals (NASDAQ:CRNX) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($1.23) 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 during 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 for the quarter was up 2873.4% compared to the same quarter last year. Equities analysts expect that Crinetics Pharmaceuticals, Inc. will post -4.86 EPS for the current fiscal year.

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.

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.