Septerna (NASDAQ:SEPN) Shares Gap Down - Here's Why

Key Points

• Septerna's stock price declined from a previous close of $23.14 to an opening price of $21.93, highlighting a significant drop before trading commenced.
• Analysts' ratings vary: Cantor Fitzgerald maintains an "overweight" rating with a $25.00 price target, while Weiss Ratings issued a "sell" rating, reflecting differing outlooks among analysts.
• Recent earnings results showed a miss: Septerna reported a loss of ($0.56) per share, falling short of the consensus estimate and projecting a challenging fiscal outlook.

Septerna, Inc. (NASDAQ:SEPN - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $23.14, but opened at $21.93. Septerna shares last traded at $21.23, with a volume of 130,286 shares trading hands.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $25.00 target price on shares of Septerna in a research note on Friday, September 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Septerna in a research note on Wednesday. HC Wainwright restated a "buy" rating and issued a $26.00 price target on shares of Septerna in a research report on Thursday, August 21st. Finally, Wall Street Zen upgraded shares of Septerna from a "sell" rating to a "hold" rating in a research report on Sunday, September 21st. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $26.75.

Septerna Trading Down 7.8%

The stock has a market cap of $950.89 million and a P/E ratio of -2.12. The firm's fifty day moving average is $14.61 and its 200 day moving average is $10.95.

Septerna (NASDAQ:SEPN - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.51). The company had revenue of $0.12 million during the quarter, compared to analyst estimates of $22.50 million. Septerna had a negative return on equity of 31.52% and a negative net margin of 12,053.03%. Research analysts forecast that Septerna, Inc. will post -7.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Rangeley Capital LLC lifted its holdings in Septerna by 10.7% during the 2nd quarter. Rangeley Capital LLC now owns 58,605 shares of the company's stock valued at $619,000 after purchasing an additional 5,655 shares during the last quarter. Perceptive Advisors LLC bought a new position in Septerna during the 2nd quarter valued at about $5,723,000. Boothbay Fund Management LLC bought a new position in Septerna during the 2nd quarter valued at about $255,000. Bank of America Corp DE lifted its holdings in Septerna by 758.3% during the 2nd quarter. Bank of America Corp DE now owns 99,213 shares of the company's stock valued at $1,049,000 after purchasing an additional 87,654 shares during the last quarter. Finally, VR Adviser LLC bought a new position in Septerna during the 2nd quarter valued at about $5,713,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.