Septerna (NASDAQ:SEPN) Sees Unusually-High Trading Volume on Analyst Upgrade

Key Points

• Wells Fargo raised Septerna’s price target from $48 to $50 and maintained an overweight rating, helping shares rise 3.6% to approximately $50.48.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and average price target of $49.22; targets range from $43 to $60.
• Septerna exceeded quarterly expectations, reporting a loss of $0.29 per share versus the $0.43 estimate and revenue of $26.75 million versus $19.22 million expected, though the company remains unprofitable.

Septerna, Inc. (NASDAQ:SEPN - Get Free Report) saw an uptick in trading volume on Wednesday after Wells Fargo & Company raised their price target on the stock from $48.00 to $50.00. Wells Fargo & Company currently has an overweight rating on the stock. Approximately 244,601 shares changed hands during mid-day trading, a decline of 30% from the previous session's volume of 350,980 shares.The stock last traded at $50.4840 and had previously closed at $47.76.

A number of other research analysts also recently issued reports on SEPN. Weiss Ratings restated a "sell (d-)" rating on shares of Septerna in a report on Friday, July 17th. Truist Financial increased their price objective on Septerna from $35.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Raymond James Financial reiterated a "strong-buy" rating and issued a $49.00 price objective on shares of Septerna in a research report on Tuesday. HC Wainwright boosted their target price on Septerna from $40.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Stifel Nicolaus set a $49.00 target price on Septerna in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $49.22.

Insider Activity

In other Septerna news, insider Samira Shaikhly sold 2,178 shares of the firm's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $35.18, for a total value of $76,622.04. Following the completion of the sale, the insider directly owned 793 shares in the company, valued at $27,897.74. This trade represents a 73.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Daniel D. Long sold 3,334 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $34.47, for a total value of $114,922.98. Following the transaction, the senior vice president owned 96,412 shares in the company, valued at $3,323,321.64. This trade represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 47,828 shares of company stock valued at $1,584,314 over the last 90 days. 5.80% of the stock is currently owned by company insiders.

Institutional Trading of Septerna

A number of hedge funds have recently modified their holdings of the business. First Light Asset Management LLC lifted its holdings in shares of Septerna by 18.0% during the first quarter. First Light Asset Management LLC now owns 732,860 shares of the company's stock valued at $17,611,000 after purchasing an additional 112,049 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Septerna during the first quarter valued at $619,000. Janus Henderson Group PLC bought a new stake in Septerna in the first quarter worth $21,334,000. Swiss National Bank purchased a new stake in shares of Septerna in the first quarter worth $531,000. Finally, Renaissance Technologies LLC bought a new position in shares of Septerna during the first quarter valued at $906,000.

Septerna Trading Up 3.6%

The stock's 50 day moving average is $34.94 and its 200-day moving average is $29.25. The company has a market cap of $2.23 billion, a P/E ratio of -92.01 and a beta of 2.29.

Septerna (NASDAQ:SEPN - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.29) earnings per share for the quarter, beating 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 9.59%. As a group, sell-side analysts forecast that Septerna, Inc. will post -1.59 EPS for the current year.

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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