Crinetics Pharmaceuticals, Inc. (NASDAQ:CRNX) director Rogerio Vivaldi Coelho executed a sale of 3,000 shares of the company's common stock on July 2, 2026. The transaction, valued at $120,000, involved shares sold at a price of $40.00 each. The sale was conducted through open market transactions and was carried out pursuant to a Rule 10b5-1 trading plan that Mr. Vivaldi Coelho adopted on December 11, 2025. Following the transaction, Mr. Vivaldi Coelho directly holds 19,225 shares of Crinetics Pharmaceuticals common stock.
The stock has since surged to $83.53, more than doubling from the sale price, and the company now commands a market capitalization of $8.81 billion. According to InvestingPro analysis, the stock appears overvalued at current levels based on Fair Value estimates. In other recent news, Vertex Pharmaceuticals announced its acquisition of Crinetics Pharmaceuticals for approximately $10 billion. This agreement values Crinetics at $85 per share in cash, representing a significant premium to its previous closing price. The acquisition is expected to close this quarter and includes key assets such as Palsonify for acromegaly and atumelnant for congenital adrenal hyperplasia and Cushing's disease.
Following the announcement, Jones Trading downgraded Crinetics from Buy to Hold, while Oppenheimer adjusted its rating to Perform from Outperform. Cantor Fitzgerald also downgraded Crinetics to Neutral from Overweight, although it reiterated an Overweight rating for Vertex with a price target of $590.00. UBS initiated coverage on Crinetics with a Buy rating and a $55 price target, anticipating risk-adjusted peak sales of $2.0 billion for atumelnant. The acquisition marks a significant transaction in the biopharma sector, being the fourth deal valued at $10 billion or more this year.