Bank of America Corp DE Purchases New Shares in Septerna, Inc. $SEPN

Key Points

• Bank of America acquired 35,875 Septerna shares worth approximately $1.2 million during the second quarter, representing about 0.08% of the biotechnology company. Several other institutional investors also initiated positions.
• Septerna reported a quarterly loss of $0.29 per share, beating estimates of a $0.43 loss, while revenue of $26.75 million exceeded expectations of $19.22 million. The company remains unprofitable, with analysts projecting a full-year loss of $1.41 per share.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $52.44, compared with a recent share price of $38.05. However, insiders sold 31,667 shares worth about $1.34 million in the last quarter.

Bank of America Corp DE acquired a new stake in Septerna, Inc. (NASDAQ:SEPN - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 35,875 shares of the company's stock, valued at approximately $1,201,000. Bank of America Corp DE owned about 0.08% of Septerna at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SEPN. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Septerna in the fourth quarter valued at about $88,000. The Manufacturers Life Insurance Company purchased a new position in Septerna during the second quarter worth about $211,000. Canada Pension Plan Investment Board acquired a new stake in Septerna in the second quarter valued at about $298,000. Legal & General Group Plc acquired a new stake in Septerna in the second quarter valued at about $337,000. Finally, Seven Fleet Capital Management LP purchased a new stake in Septerna in the 4th quarter valued at approximately $319,000.

Septerna Stock Down 2.8%

NASDAQ:SEPN opened at $38.05 on Friday. The company has a market capitalization of $1.78 billion, a PE ratio of -70.46 and a beta of 2.29. Septerna, Inc. has a 52-week low of $17.55 and a 52-week high of $51.10. The stock has a fifty day simple moving average of $39.06 and a 200-day simple moving average of $32.58.

Septerna (NASDAQ:SEPN - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.43) by $0.14. The firm had revenue of $26.75 million for the quarter, compared to analysts' expectations of $19.22 million. Septerna had a negative net margin of 24.51% and a negative return on equity of 9.57%. As a group, equities analysts anticipate that Septerna, Inc. will post -1.41 earnings per share for the current year.

Insider Activity at Septerna

In related news, COO Elizabeth Bhatt sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $44.00, for a total value of $1,100,000.00. Following the sale, the chief operating officer owned 174,209 shares of the company's stock, valued at approximately $7,665,196. This represents a 12.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Daniel D. Long sold 3,333 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $37.83, for a total value of $126,087.39. Following the sale, the senior vice president owned 96,412 shares in the company, valued at approximately $3,647,265.96. This trade represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,667 shares of company stock worth $1,341,010 over the last quarter. Company insiders own 5.80% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on SEPN shares. JPMorgan Chase & Co. raised their price target on Septerna from $38.00 to $48.00 and gave the company an "overweight" rating in a report on Wednesday, August 19th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Septerna in a research report on Friday, July 17th. Wells Fargo & Company raised their target price on Septerna from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, August 12th. Guggenheim boosted their target price on shares of Septerna from $45.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Finally, Truist Financial upped their price target on shares of Septerna from $35.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $52.44.

Septerna Company Profile

Septerna, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing oral medicines that target G protein-coupled receptors (GPCRs). GPCRs are a large class of cell-surface proteins involved in numerous biological processes and are established targets for therapies across a range of diseases.

The company uses its proprietary Native Complex Platform to study GPCRs in their native state and identify small-molecule medicines for targets that have historically been difficult to address.

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