Septerna (NASDAQ:SEPN) Trading Down 8.5% - Here's Why

Septerna, Inc. (NASDAQ:SEPN - Get Free Report)'s stock price fell 8.5% during trading on Friday . The stock traded as low as $18.91 and last traded at $19.08. 45,386 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 158,137 shares. The stock had previously closed at $20.85.

Wall Street Analysts Forecast Growth

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

Septerna Price Performance

The business has a 50-day moving average of $23.63.

Insider Activity

In related news, major shareholder Rock Ventures V. L.P. Third acquired 370,500 shares of the business'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 transaction, the insider now owns 6,215,591 shares of the company's stock, 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 Securities & Exchange Commission, which is available through this hyperlink.

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.