Septerna (NASDAQ:SEPN) Shares Gap Down – Should You Sell?

Septerna, Inc. (NASDAQ:SEPN) gapped down before the market opened on Monday . The stock had previously closed at $23.69, but opened at $22.88. Septerna shares last traded at $23.43, with a volume of 2,627 shares traded.

Wall Street Analyst Weigh In

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

Septerna Stock Performance

The business’s 50 day simple moving average is $23.70.

Insider Buying and Selling at Septerna

In other Septerna news, major shareholder Rock Ventures V. L.P. Third purchased 370,500 shares of the stock in a transaction on Monday, October 28th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $6,669,000.00. Following the purchase, the insider now owns 6,215,591 shares of the company’s stock, valued at approximately $111,880,638. This represents a 6.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.