Bullish indicating open at $55-$60, IPO prices at $37
Jeffrey Finer, the CEO and President of Septerna, Inc. (NASDAQ:SEPN), recently increased his stake in the company with a series of stock purchases totaling $96,960. According to the SEC filing, Finer acquired 17,000 shares of common stock over several transactions between February 25 and February 27. The shares were purchased at prices ranging from $5.6765 to $5.8 per share, near the stock’s 52-week low of $4.17 and significantly below its high of $28.99. InvestingPro data shows the stock has declined over 70% in the past six months.
This series of transactions boosts Finer’s total ownership to 771,907 shares. The purchases were made directly, reflecting a continued confidence in the company’s prospects. Septerna, based in South San Francisco, operates in the pharmaceutical preparations sector. While the company maintains strong liquidity with a current ratio of 10.08 and more cash than debt, InvestingPro analysis reveals 12 additional key insights about the company’s financial health and market position.
In other recent news, Septerna Inc . reported the discontinuation of its Phase 1 clinical trial for SEP-786, a drug candidate for hypoparathyroidism, due to severe elevated bilirubin levels in participants. Despite this setback, JPMorgan maintains an Overweight rating on Septerna with a $38 price target, emphasizing that the adverse events did not indicate liver injury and that the company plans to resume its clinical program with a new compound by late 2025. Cantor Fitzgerald also reaffirmed its Overweight rating with a $50 price target, projecting significant growth potential for Septerna’s treatments in the hypoPTH market. Septerna remains financially robust, with $137.5 million in cash and marketable securities as of September 30, 2024, and an additional $302.6 million raised from its IPO in October 2024, expected to fund operations into the second half of 2027.
Additionally, Septerna announced the appointment of Gil Labrucherie as its new Chief Financial Officer, bringing extensive experience from previous roles in the biopharmaceutical sector. The company continues to focus on developing its pipeline, with SEP-631 expected to enter clinical trials for mast cell diseases in 2025. Meanwhile, non-clinical studies are underway to understand the bilirubin elevation observed in the SEP-786 trial. These developments reflect Septerna’s ongoing commitment to advancing its drug discovery efforts despite recent challenges.
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