Septerna, Inc.’s Quiet Period Will End on December 4th (NASDAQ:SEPN)

Septerna’s (NASDAQ:SEPN) quiet period is set to end on Wednesday, December 4th. Septerna had issued 16,000,000 shares in its public offering on October 25th. The total size of the offering was $288,000,000 based on an initial share price of $18.00. During Septerna’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

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

Septerna Stock Performance

Septerna stock opened at $24.78 on Friday. Septerna has a 52 week low of $18.62 and a 52 week high of $26.34.

Insider Activity at Septerna

In other news, major shareholder Rock Ventures V. L.P. Third bought 370,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were acquired at an average cost of $18.00 per share, with a total value of $6,669,000.00. Following the transaction, the insider now owns 6,215,591 shares of the company’s stock, valued at $111,880,638. This represents a 6.34 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at 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.