Septerna (NASDAQ:SEPN) Stock Price Down 6.9% – Here’s Why

Septerna, Inc. (NASDAQ:SEPN) shares dropped 6.9% on Wednesday. The stock traded as low as $49.33 and last traded at $48.7070. 27,637 shares changed hands during trading, a decline of 92% from the average daily volume of 364,694 shares. The stock had previously closed at $52.34.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SEPN. Raymond James Financial restated a “strong-buy” rating and issued a $49.00 price objective on shares of Septerna in a report on Tuesday, August 11th. HC Wainwright increased their target price on Septerna from $40.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Septerna in a report on Thursday, October 15th. Wells Fargo & Company boosted their price target on Septerna from $50.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 4th. Finally, Guggenheim upped their price target on Septerna from $51.00 to $65.00 and gave the company a “buy” rating in a report on Friday, November 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Septerna presently has an average rating of “Moderate Buy” and an average target price of $56.44.

Septerna Price Performance

The stock’s 50-day moving average is $40.04 and its two-hundred day moving average is $32.84. The company has a market cap of $2.22 billion, a P/E ratio of -37.00 and a beta of 2.20.

Septerna (NASDAQ:SEPN) last announced its earnings results on Monday, November 9th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.15). Septerna had a negative return on equity of 15.43% and a negative net margin of 61.29%. The firm had revenue of $18.88 million during the quarter, compared to analysts’ expectations of $20.78 million. On average, analysts predict that Septerna, Inc. will post -1.41 EPS for the current year.

Insider Activity at Septerna

In other news, COO Elizabeth Bhatt sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $37.41, for a total value of $149,640.00. Following the transaction, the chief operating officer owned 174,209 shares of the company’s stock, valued at $6,517,158.69. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Daniel D. Long sold 3,333 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $37.83, for a total value of $126,087.39. Following the transaction, the senior vice president owned 96,412 shares of the company’s stock, valued at approximately $3,647,265.96. This trade represents a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SEPN. Voya Investment Management LLC bought a new stake in Septerna during the third quarter valued at about $565,000. Russell Investments Group Ltd. boosted its stake in shares of Septerna by 8.6% in the third quarter. Russell Investments Group Ltd. now owns 43,683 shares of the company’s stock worth $1,709,000 after acquiring an additional 3,474 shares during the period. Covestor Ltd boosted its stake in shares of Septerna by 19.0% in the third quarter. Covestor Ltd now owns 2,526 shares of the company’s stock worth $98,000 after acquiring an additional 403 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Septerna during the third quarter worth about $93,000. Finally, Profund Advisors LLC bought a new stake in Septerna during the 3rd quarter valued at approximately $1,497,000.

About Septerna

Septerna is a clinical-stage biotechnology company developing medicines that target G protein-coupled receptors (GPCRs), a large family of proteins involved in many biological processes. The company is based in South San Francisco, California. Its discovery platform is designed to identify drug candidates that act on GPCRs, including targets that have been difficult to address with conventional drug-development approaches. Septerna is advancing candidates for endocrine, metabolic and other disease areas, with an emphasis on small-molecule medicines.