Septerna (NASDAQ:SEPN) Shares Down 7.2% – Here’s Why

Septerna, Inc. (NASDAQ:SEPN)’s stock price was down 7.2% during mid-day trading on Friday . The company traded as low as $13.20 and last traded at $13.19. Approximately 71,535 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 216,240 shares. The stock had previously closed at $14.21.

Wall Street Analysts Forecast Growth

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

Septerna Trading Down 7.9 %

The business’s 50-day simple moving average is $20.93.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Septerna during the fourth quarter worth $185,000. Rhumbline Advisers acquired a new position in shares of Septerna during the 4th quarter worth about $458,000. New York State Common Retirement Fund purchased a new position in Septerna in the 4th quarter valued at about $32,000. Bank of New York Mellon Corp acquired a new stake in Septerna in the 4th quarter worth about $872,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in Septerna during the 4th quarter worth approximately $3,197,000.

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.