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

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SEPN shares. Wells Fargo & Company decreased their price objective on Septerna from $14.00 to $11.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Cantor Fitzgerald restated an “overweight” rating and set a $50.00 price target on shares of Septerna in a research report on Tuesday, February 11th.

Septerna Stock Down 0.5 %

Shares of SEPN opened at $5.87 on Tuesday. Septerna has a 12-month low of $4.17 and a 12-month high of $28.99. The firm has a 50-day moving average price of $6.34.

Septerna (NASDAQ:SEPN) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.64) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.05. The firm had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.13 million. Equities research analysts anticipate that Septerna will post -7.11 EPS for the current year.

Insider Activity

In other news, Director Alan Ezekowitz purchased 7,491 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $6.35 per share, for a total transaction of $47,567.85. Following the completion of the transaction, the director now directly owns 24,911 shares in the company, valued at approximately $158,184.85. This represents a 43.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gil M. Labrucherie bought 10,500 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were purchased at an average price of $5.51 per share, with a total value of $57,855.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,500 shares in the company, valued at $57,855. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 74,346 shares of company stock valued at $439,670 in the last quarter.

Hedge Funds Weigh In On Septerna

Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new position in Septerna in the fourth quarter valued at $25,000. New York State Common Retirement Fund purchased a new position in shares of Septerna in the 4th quarter valued at about $32,000. Legal & General Group Plc purchased a new position in shares of Septerna in the 4th quarter valued at about $42,000. Summit Investment Advisors Inc. acquired a new position in shares of Septerna during the fourth quarter worth about $45,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Septerna during the fourth quarter worth approximately $52,000.

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.