Septerna, Inc.’s (NASDAQ:SEPN) Lock-Up Period To Expire on April 23rd

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 end of Septerna’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

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

Septerna Stock Performance

Shares of SEPN stock opened at $5.90 on Friday. Septerna has a 52-week low of $4.17 and a 52-week high of $28.99. The company’s 50 day simple moving average is $6.45.

Septerna (NASDAQ:SEPN) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.64) EPS for the quarter, beating the consensus estimate 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. Sell-side analysts anticipate that Septerna will post -7.11 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Gil M. Labrucherie acquired 6,282 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were acquired at an average cost of $5.59 per share, with a total value of $35,116.38. Following the completion of the acquisition, the chief financial officer now directly owns 36,282 shares in the company, valued at approximately $202,816.38. This trade represents a 20.94 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alan Ezekowitz bought 41,355 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $6.00 per share, with a total value of $248,130.00. Following the purchase, the director now directly owns 104,101 shares of the company’s stock, valued at approximately $624,606. This represents a 65.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 74,346 shares of company stock worth $439,670 over the last three months.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC acquired a new stake in shares of Septerna in the fourth quarter worth approximately $25,000. New York State Common Retirement Fund acquired a new position in Septerna in the 4th quarter valued at $32,000. Legal & General Group Plc purchased a new position in Septerna in the 4th quarter valued at $42,000. Summit Investment Advisors Inc. acquired a new stake in Septerna during the 4th quarter worth $45,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Septerna during the fourth quarter worth $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.