Septerna (NASDAQ:SEPN) Shares Down 8.5% – Here’s Why

Septerna, Inc. (NASDAQ:SEPN) shares traded down 8.5% during trading on Friday . The company traded as low as $18.91 and last traded at $19.08. 45,386 shares traded hands during trading, a decline of 71% from the average session volume of 158,137 shares. The stock had previously closed at $20.85.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SEPN. JPMorgan Chase & Co. assumed coverage on Septerna in a research note on Tuesday, November 19th. They set an “overweight” rating and a $38.00 price target for the company. Wells Fargo & Company began coverage on shares of Septerna in a research note on Tuesday, November 19th. They issued an “overweight” rating and a $43.00 price target on the stock. Cantor Fitzgerald began coverage on Septerna in a report on Tuesday, November 19th. They set an “overweight” rating and a $50.00 price objective on the stock. Finally, TD Cowen initiated coverage on Septerna in a research report on Tuesday, November 19th. They set a “buy” rating on the stock.

Septerna Stock Performance

The stock has a 50 day moving average of $23.63.

Insider Activity

In related news, major shareholder Rock Ventures V. L.P. Third acquired 370,500 shares of Septerna stock in a transaction that occurred on Monday, October 28th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $6,669,000.00. Following the completion of the transaction, the insider now owns 6,215,591 shares in the company, valued at $111,880,638. This represents a 6.34 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Septerna Company Profile

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.