Septerna (NASDAQ:SEPN) Shares Gap Down Following Weak Earnings

Key Points

• Septerna's shares gapped down from $11.49 to $11.00 following a disappointing earnings report, missing earnings per share estimates by $0.51.
• The company reported revenue of just $0.12 million, significantly lower than the expected $22.50 million, raising concerns among investors.
• Despite the earnings miss, analysts have mixed views; four have assigned a buy rating with an average price target of $26.75, while one has rated it a hold.

Septerna, Inc. (NASDAQ:SEPN - Get Free Report) shares gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $11.49, but opened at $11.00. Septerna shares last traded at $11.27, with a volume of 71,895 shares.

The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.51). The company had revenue of $0.12 million during the quarter, compared to the consensus estimate of $22.50 million.

Analyst Upgrades and Downgrades

SEPN has been the topic of several recent analyst reports. HC Wainwright initiated coverage on Septerna in a research note on Monday, June 23rd. They set a "buy" rating and a $26.00 target price on the stock. Wells Fargo & Company increased their target price on Septerna from $11.00 to $18.00 and gave the company an "equal weight" rating in a research note on Friday, May 16th. Finally, Cantor Fitzgerald increased their target price on Septerna from $20.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $26.75.

Institutional Investors Weigh In On Septerna

Several large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new stake in shares of Septerna in the fourth quarter valued at approximately $25,000. JPMorgan Chase & Co. lifted its holdings in Septerna by 15.0% during the second quarter. JPMorgan Chase & Co. now owns 10,101 shares of the company's stock worth $107,000 after buying an additional 1,315 shares during the period. Legal & General Group Plc purchased a new stake in Septerna during the fourth quarter worth $42,000. Summit Investment Advisors Inc. purchased a new stake in Septerna during the fourth quarter worth $45,000. Finally, BNP Paribas Financial Markets purchased a new stake in Septerna during the fourth quarter worth $52,000.

Septerna Trading Down 2.0%

The business has a fifty day simple moving average of $11.41 and a two-hundred day simple moving average of $9.24.

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.

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