Septerna (NASDAQ:SEPN) Shares Down 5% - Time to Sell?

Septerna, Inc. (NASDAQ:SEPN - Get Free Report)'s share price was down 5% during trading on Monday . The stock traded as low as $24.07 and last traded at $24.07. Approximately 67,634 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 324,280 shares. The stock had previously closed at $25.33.

Analysts Set New Price Targets

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

Septerna Price Performance

The stock has a fifty day simple moving average of $23.80.

Insider Transactions at Septerna

In related news, major shareholder Rock Ventures V. L.P. Third purchased 370,500 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was bought at an average price of $18.00 per share, for a total transaction of $6,669,000.00. Following the purchase, the insider now directly owns 6,215,591 shares in the company, valued at approximately $111,880,638. This trade represents a 6.34 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Septerna Company Profile

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.