Septerna (NASDAQ:SEPN) Trading 7.7% Higher – Here’s What Happened

Septerna, Inc. (NASDAQ:SEPN) shares shot up 7.7% on Friday . The company traded as high as $23.09 and last traded at $23.00. 38,381 shares changed hands during trading, a decline of 65% from the average session volume of 109,190 shares. The stock had previously closed at $21.35.

Wall Street Analysts Forecast Growth

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

Septerna Stock Up 8.5 %

The stock has a fifty day moving average price of $23.70.

Insider Buying and Selling

In other Septerna news, major shareholder Rock Ventures V. L.P. Third bought 370,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was acquired 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 directly owns 6,215,591 shares of the company’s stock, valued at approximately $111,880,638. This trade represents a 6.34 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at 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.