Septerna, Inc.’s (NASDAQ:SEPN) Lock-Up Period Set To Expire Tomorrow

Septerna’s (NASDAQ:SEPN) lock-up period is set to expire on Wednesday, April 23rd. Septerna had issued 16,000,000 shares in its initial public offering on October 25th. The total size of the offering was $288,000,000 based on an initial share price of $18.00. After the end of Septerna’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

SEPN has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on Septerna from $14.00 to $11.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $50.00 target price on shares of Septerna in a research report on Tuesday, February 11th.

Septerna Stock Performance

Shares of SEPN opened at $5.87 on Tuesday. The stock’s 50-day moving average is $6.34. Septerna has a fifty-two week low of $4.17 and a fifty-two week high of $28.99.

Septerna (NASDAQ:SEPN) last posted its earnings results on Thursday, March 27th. The company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.69) by $0.05. The company had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.13 million. On average, analysts expect that Septerna will post -7.11 EPS for the current year.

Insider Activity at Septerna

In other Septerna news, CFO Gil M. Labrucherie bought 5,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were purchased at an average cost of $5.85 per share, for a total transaction of $29,250.00. Following the transaction, the chief financial officer now directly owns 30,000 shares of the company’s stock, valued at approximately $175,500. The trade was a 20.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alan Ezekowitz purchased 7,491 shares of Septerna stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $6.35 per share, with a total value of $47,567.85. Following the acquisition, the director now directly owns 24,911 shares in the company, valued at $158,184.85. This trade represents a 43.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 74,346 shares of company stock worth $439,670 in the last three months.

Institutional Trading of Septerna

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Septerna in the 4th quarter valued at $185,000. Rhumbline Advisers acquired a new stake in shares of Septerna in the fourth quarter valued at about $458,000. New York State Common Retirement Fund purchased a new stake in shares of Septerna during the fourth quarter worth about $32,000. Bank of New York Mellon Corp acquired a new position in shares of Septerna during the 4th quarter worth about $872,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in Septerna in the 4th quarter valued at about $3,197,000.

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.