PNC Financial Services Group Inc. Takes Position in Septerna, Inc. (NASDAQ:SEPN)

PNC Financial Services Group Inc. bought a new position in Septerna, Inc. (NASDAQ:SEPN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,680 shares of the company’s stock, valued at approximately $61,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund purchased a new stake in shares of Septerna during the 4th quarter worth approximately $32,000. SG Americas Securities LLC bought a new stake in Septerna in the fourth quarter worth $185,000. M&T Bank Corp purchased a new stake in Septerna during the fourth quarter valued at $376,000. Rhumbline Advisers bought a new position in Septerna during the fourth quarter valued at $458,000. Finally, Lindbrook Capital LLC purchased a new position in shares of Septerna in the 4th quarter worth $481,000.

Septerna Stock Performance

Shares of NASDAQ:SEPN opened at $6.14 on Thursday. Septerna, Inc. has a 12 month low of $4.17 and a 12 month high of $28.99. The firm’s 50-day moving average price is $10.39.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SEPN. Wells Fargo & Company cut shares of Septerna from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $43.00 to $14.00 in a research report on Tuesday, February 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Septerna in a research note on Tuesday, February 11th.

Insider Activity

In other news, Director Alan Ezekowitz purchased 7,491 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $6.35 per share, for a total transaction of $47,567.85. Following the completion of the acquisition, the director now owns 24,911 shares of the company’s stock, valued at approximately $158,184.85. This trade represents a 43.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Gil M. Labrucherie bought 6,282 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were purchased at an average cost of $5.59 per share, with a total value of $35,116.38. Following the completion of the transaction, the chief financial officer now owns 36,282 shares in the company, valued at $202,816.38. This represents a 20.94 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 74,346 shares of company stock valued at $439,670.

Septerna 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.