Bank of New York Mellon Corp Acquires New Position in Septerna, Inc. $SEPN

Key Points

• Bank of New York Mellon Corp acquired 56,176 Septerna shares worth approximately $1.88 million, representing about 0.12% of the biotech company.
• Septerna reported quarterly revenue of $26.75 million and an adjusted loss of $0.29 per share, beating analyst expectations of $19.22 million in revenue and a $0.43-per-share loss.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $52.44 price target, while insiders sold 58,428 shares valued at roughly $2.28 million over the past 90 days.

Bank of New York Mellon Corp bought a new position in Septerna, Inc. (NASDAQ:SEPN - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 56,176 shares of the company's stock, valued at approximately $1,881,000. Bank of New York Mellon Corp owned approximately 0.12% of Septerna as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SEPN. Group One Trading LLC increased its holdings in shares of Septerna by 111.8% in the fourth quarter. Group One Trading LLC now owns 944 shares of the company's stock valued at $26,000 after purchasing an additional 8,955 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Septerna in the fourth quarter worth $35,000. Russell Investments Group Ltd. acquired a new stake in shares of Septerna in the third quarter worth $36,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Septerna during the fourth quarter worth $53,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Septerna during the fourth quarter worth $100,000.

Septerna Stock Performance

Shares of SEPN stock opened at $37.37 on Wednesday. Septerna, Inc. has a fifty-two week low of $13.67 and a fifty-two week high of $51.10. The stock's fifty day moving average is $37.56 and its two-hundred day moving average is $31.32. The firm has a market capitalization of $1.74 billion, a P/E ratio of -69.20 and a beta of 2.30.

Septerna (NASDAQ:SEPN - Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.43) by $0.14. The business had revenue of $26.75 million during the quarter, compared to analyst estimates of $19.22 million. Septerna had a negative net margin of 24.51% and a negative return on equity of 9.57%. On average, equities analysts forecast that Septerna, Inc. will post -1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SEPN shares. JonesTrading increased their price target on Septerna from $43.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Stifel Nicolaus set a $49.00 target price on Septerna in a report on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price target on Septerna from $38.00 to $48.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Truist Financial upped their price objective on Septerna from $35.00 to $43.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Finally, Wells Fargo & Company raised their price objective on shares of Septerna from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Septerna currently has an average rating of "Moderate Buy" and an average price target of $52.44.

Insiders Place Their Bets

In other news, SVP Daniel Long sold 15,000 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $35.51, for a total transaction of $532,650.00. Following the transaction, the senior vice president directly owned 96,412 shares in the company, valued at $3,423,590.12. The trade was a 13.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Samira Shaikhly sold 6,250 shares of the company's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $35.08, for a total value of $219,250.00. Following the completion of the sale, the insider owned 793 shares of the company's stock, valued at $27,818.44. This trade represents a 88.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 58,428 shares of company stock valued at $2,284,054 in the last ninety days. 5.80% of the stock is currently owned by corporate insiders.

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.

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