Septerna (NASDAQ:SEPN) Shares Gap Down – Here’s What Happened

Septerna, Inc. (NASDAQ:SEPN)’s share price gapped down before the market opened on Monday . The stock had previously closed at $37.34, but opened at $35.18. Septerna shares last traded at $34.9050, with a volume of 136,353 shares.

Analyst Ratings Changes

SEPN has been the topic of a number of recent research reports. Guggenheim initiated coverage on Septerna in a research report on Thursday, June 11th. They issued a “buy” rating and a $52.00 target price on the stock. Wells Fargo & Company increased their price target on Septerna from $28.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Stifel Nicolaus assumed coverage on Septerna in a research note on Friday, May 1st. They issued a “buy” rating and a $43.00 price target for the company. JPMorgan Chase & Co. boosted their price target on Septerna from $34.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of Septerna in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.78.

Septerna Stock Performance

The business has a fifty day moving average of $29.58 and a two-hundred day moving average of $27.49. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -41.35 and a beta of 2.39.

Septerna (NASDAQ:SEPN) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.23. Septerna had a negative net margin of 49.88% and a negative return on equity of 12.72%. The firm had revenue of $26.52 million during the quarter, compared to analysts’ expectations of $16.98 million. As a group, sell-side analysts predict that Septerna, Inc. will post -1.57 EPS for the current fiscal year.

Insider Transactions at Septerna

In other news, COO Elizabeth Bhatt sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $24.34, for a total transaction of $97,360.00. Following the completion of the sale, the chief operating officer owned 174,209 shares in the company, valued at approximately $4,240,247.06. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Daniel D. Long sold 15,000 shares of Septerna stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $35.51, for a total transaction of $532,650.00. Following the sale, the senior vice president directly owned 96,412 shares of the company’s stock, valued at $3,423,590.12. The trade was a 13.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 45,161 shares of company stock worth $1,452,229. 5.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Septerna

A number of institutional investors have recently made changes to their positions in SEPN. Avoro Capital Advisors LLC grew its holdings in Septerna by 8.1% in the 3rd quarter. Avoro Capital Advisors LLC now owns 1,337,500 shares of the company’s stock valued at $25,158,000 after buying an additional 100,000 shares in the last quarter. First Light Asset Management LLC lifted its holdings in shares of Septerna by 18.0% during the first quarter. First Light Asset Management LLC now owns 732,860 shares of the company’s stock worth $17,611,000 after buying an additional 112,049 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Septerna during the first quarter worth $906,000. Swiss National Bank bought a new stake in shares of Septerna in the first quarter valued at about $531,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Septerna by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 58,709 shares of the company’s stock valued at $1,411,000 after acquiring an additional 3,377 shares during the period.

About Septerna

We are a clinical-stage biotechnology company pioneering a new era of G protein-coupled receptor (GPCR) oral small molecule drug discovery powered by our proprietary Native Complex Platform™. Our industrial-scale platform aims to unlock the full potential of GPCR therapies and has led to the discovery and development of our deep pipeline of product candidates focused initially on treating patients in three therapeutic areas: endocrinology, immunology and inflammation, and metabolic diseases. GPCRs are the largest and most diverse family of cell membrane receptors and regulate physiological processes in nearly every organ system of the human body.