Septerna (NASDAQ:SEPN) Trading Up 5.7% – Here’s What Happened

Septerna, Inc. (NASDAQ:SEPN)’s share price shot up 5.7% on Wednesday . The stock traded as high as $19.39 and last traded at $19.76. 31,567 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 193,123 shares. The stock had previously closed at $18.70.

Analyst Upgrades and Downgrades

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

Septerna Price Performance

The stock has a 50 day moving average price of $22.41.

Insider Transactions at Septerna

In related news, major shareholder Rock Ventures V. L.P. Third bought 370,500 shares of the business’s stock in a transaction on Monday, October 28th. The stock was bought at an average price of $18.00 per share, for a total transaction of $6,669,000.00. Following the transaction, the insider now directly owns 6,215,591 shares in the company, valued at $111,880,638. This represents a 6.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Septerna stock. SG Americas Securities LLC acquired a new position in Septerna, Inc. (NASDAQ:SEPN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,095 shares of the company’s stock, valued at approximately $185,000.

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.