Septerna (NASDAQ:SEPN) Stock Price Up 7.4% - Here's What Happened

Septerna, Inc. (NASDAQ:SEPN - Get Free Report) shares shot up 7.4% during trading on Friday . The company traded as high as $12.42 and last traded at $12.41. 48,512 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 233,894 shares. The stock had previously closed at $11.55.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company cut shares of Septerna from an "overweight" rating to an "equal weight" rating and set a $14.00 price objective on the stock. in a research note on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $50.00 price target on shares of Septerna in a report on Tuesday, February 11th. JPMorgan Chase & Co. assumed coverage on Septerna in a report on Tuesday, November 19th. They issued an "overweight" rating and a $38.00 target price on the stock. Finally, TD Cowen began coverage on Septerna in a report on Tuesday, November 19th. They set a "buy" rating for the company.

Septerna Stock Performance

The business has a 50-day moving average of $19.15.

Institutional Investors Weigh In On Septerna

Hedge funds have recently bought and sold shares of the business. Woodline Partners LP purchased a new stake in shares of Septerna in the fourth quarter worth approximately $6,870,000. Zimmer Partners LP acquired a new stake in shares of Septerna during the 4th quarter valued at $229,000. Soleus Capital Management L.P. purchased a new position in shares of Septerna during the 4th quarter valued at $15,467,000. Nuveen Asset Management LLC acquired a new position in shares of Septerna in the fourth quarter worth $549,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Septerna during the fourth quarter worth $278,000.

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.