Septerna, Inc.’s (NASDAQ:SEPN) Quiet Period Set To Expire on December 4th

Septerna’s (NASDAQ:SEPN) quiet period is set to end on Wednesday, December 4th. Septerna had issued 16,000,000 shares in its initial 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 restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Ratings Changes

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

Septerna Trading Up 4.4 %

NASDAQ:SEPN opened at $24.28 on Wednesday. Septerna has a 1 year low of $18.62 and a 1 year high of $26.34.

Insider Activity

In other news, major shareholder Rock Ventures V. L.P. Third purchased 370,500 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $6,669,000.00. Following the acquisition, the insider now directly owns 6,215,591 shares in the company, valued at approximately $111,880,638. The trade was a 6.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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.