Septerna (NASDAQ:SEPN) Posts Quarterly Earnings Results

Septerna (NASDAQ:SEPN) issued its earnings results on Tuesday. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.23, FiscalAI reports. The company had revenue of $26.52 million during the quarter, compared to analysts’ expectations of $16.98 million. Septerna had a negative net margin of 49.88% and a negative return on equity of 12.72%.

Here are the key takeaways from Septerna’s conference call:

• Septerna said its Native Complex Platform enables drug discovery against previously hard-to-drug GPCRs, and management emphasized it has already generated more than 150 high-resolution structures across programs.
• The company highlighted a cash runway into 2029 and said its portfolio strategy focuses on well-validated targets with meaningful early clinical readouts.
• For SEP-479 in hypoparathyroidism, Septerna described encouraging preclinical data, including a monkey PK/PD study showing endogenous PTH suppression and calcium increases consistent with the desired human starting-dose range.
• SEP-631 posted promising Phase I results in MRGPRX2, including good tolerability, a 24-hour half-life, no food effect, and skin-challenge data showing suppression of icatibant-induced skin response to saline levels at lower doses and to baseline at higher doses.
• Septerna said it expects SEP-479 Phase I data late this year or early next year, aims to move SEP-631 into Phase II later this year, and still sees its TSH receptor program for Graves’ disease progressing toward a development candidate later in the year.

Septerna Stock Up 6.7%

Shares of Septerna stock traded up $1.67 on Thursday, hitting $26.42. 125,634 shares of the company’s stock traded hands, compared to its average volume of 306,802. The stock has a market cap of $1.19 billion, a P/E ratio of -32.94 and a beta of 2.21. The firm’s 50-day moving average is $25.09 and its 200 day moving average is $25.46. Septerna has a 52-week low of $8.86 and a 52-week high of $32.63.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Septerna in a research report on Tuesday, April 21st. Wells Fargo & Company increased their target price on shares of Septerna from $28.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. upped their price target on Septerna from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, March 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $60.00 price target on shares of Septerna in a report on Tuesday, March 10th. Finally, Truist Financial upped their price target on Septerna from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Septerna currently has an average rating of “Moderate Buy” and an average target price of $43.13.

Insider Activity at Septerna

In related news, insider Samira Shaikhly sold 70,453 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $28.10, for a total transaction of $1,979,729.30. Following the transaction, the insider directly owned 793 shares in the company, valued at $22,283.30. This trade represents a 98.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Elizabeth Bhatt sold 4,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $24.34, for a total value of $97,360.00. Following the transaction, the chief operating officer owned 174,209 shares in the company, valued at $4,240,247.06. This trade represents a 2.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 78,453 shares of company stock valued at $2,192,969. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Septerna

Several large investors have recently added to or reduced their stakes in SEPN. Group One Trading LLC lifted its stake in Septerna by 111.8% during the fourth quarter. Group One Trading LLC now owns 944 shares of the company’s stock worth $26,000 after purchasing an additional 8,955 shares during the last quarter. Global Retirement Partners LLC bought a new position in Septerna during the fourth quarter worth $35,000. Russell Investments Group Ltd. bought a new position in Septerna during the third quarter worth $36,000. Caitong International Asset Management Co. Ltd bought a new position in Septerna during the fourth quarter worth $53,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Septerna during the fourth quarter worth $61,000.

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. 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.