Septerna, Inc.’s Quiet Period Set To Expire on December 4th (NASDAQ:SEPN)

Septerna’s (NASDAQ:SEPN) quiet period is set to expire on Wednesday, December 4th. Septerna had issued 16,000,000 shares in its IPO on October 25th. The total size of the offering was $288,000,000 based on an initial share price of $18.00. During Septerna’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

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

Septerna Stock Up 2.1 %

NASDAQ SEPN opened at $25.29 on Friday. Septerna has a fifty-two week low of $18.62 and a fifty-two week high of $26.34.

Insider Transactions at Septerna

In other news, major shareholder Rock Ventures V. L.P. Third purchased 370,500 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was acquired at an average price of $18.00 per share, with a total value of $6,669,000.00. Following the purchase, the insider now directly owns 6,215,591 shares in the company, valued at approximately $111,880,638. This represents a 6.34 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

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.