Septerna, Inc.'s (NASDAQ:SEPN) Quiet Period Set To End on December 4th

Septerna's (NASDAQ:SEPN - Get Free Report) quiet period will end on Wednesday, December 4th. 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. During Septerna's quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company's quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

SEPN has been the topic of several research reports. Cantor Fitzgerald assumed coverage on Septerna in a research note on Tuesday, November 19th. They set an "overweight" rating and a $50.00 price target on the stock. TD Cowen assumed coverage on Septerna in a report on Tuesday, November 19th. They issued a "buy" rating for the company. Wells Fargo & Company initiated coverage on shares of Septerna in a report on Tuesday, November 19th. They set an "overweight" rating and a $43.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Septerna in a report on Tuesday, November 19th. They set an "overweight" rating and a $38.00 price objective for the company.

Septerna Stock Up 2.1 %

SEPN traded up $0.50 during midday trading on Wednesday, hitting $24.78. 170,185 shares of the company were exchanged, compared to its average volume of 189,805. Septerna has a 1-year low of $18.62 and a 1-year high of $26.34.

Insider Buying and Selling at Septerna

In other news, major shareholder Rock Ventures V. L.P. Third acquired 370,500 shares of Septerna stock in a transaction that occurred on Monday, October 28th. The stock was bought at an average price of $18.00 per share, with a total value of $6,669,000.00. Following the completion of the purchase, the insider now owns 6,215,591 shares in the company, valued at approximately $111,880,638. The trade was a 6.34 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

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.