Bullish indicating open at $55-$60, IPO prices at $37
Third Rock Ventures VI, L.P., a significant shareholder in Septerna, Inc. (NASDAQ:SEPN), has recently acquired additional shares of the company’s common stock. According to a recent SEC filing, Third Rock Ventures VI purchased 18,861 shares, amounting to a total value of approximately $113,147. The shares were acquired at a weighted average price of $5.999 per share, with transaction prices ranging from $5.975 to $6.00. This acquisition brings Third Rock Ventures VI’s total holdings in Septerna to 4,211,659 shares.The timing of this purchase is notable, as InvestingPro data shows the stock currently trading in oversold territory, with shares down over 74% in the past six months. Despite these challenges, analysts maintain optimistic price targets ranging from $14 to $38, suggesting significant potential upside. The company maintains a strong liquidity position with a current ratio of 10.08, though investors should note its accelerated cash burn rate.
In other recent news, Septerna Inc . announced the discontinuation of its Phase 1 clinical trial for SEP-786 due to elevated bilirubin levels in participants, although no liver injury was reported. Despite this setback, JPMorgan maintained its Overweight rating with a $38 target, noting the pause’s limited impact on Septerna’s operational timelines. Cantor Fitzgerald also reaffirmed its Overweight rating with a $50 target, highlighting the company’s potential in the hypoPTH treatment market. Septerna plans to resume its clinical program with a new compound and is preparing another candidate, SEP-631, for trials in mast cell diseases. The company has initiated non-clinical studies to investigate the unexpected bilirubin elevations. Financially, Septerna reported $137.5 million in cash reserves as of September 2024, with additional funds from its IPO, expected to support operations into 2027. Septerna also appointed Gil Labrucherie as its new CFO, bringing extensive experience to strengthen its financial strategy. These developments reflect ongoing adjustments and strategic planning within the company.
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