7. Septerna, Inc. (NASDAQ:SEPN)
Highest Individual Purchase: $68,911,200.00
Number of Purchases Above $30 million: 1
Market Capitalization: $273.521 million
Seventh among 10 stocks with at least $30 million in insider spending recently is Septerna, a clinical-stage biotech. The South San Francisco-headquartered company is engaged in the discovery and development of G protein-coupled receptor (GPCR) oral small molecule product candidates.
Septerna is focused on three therapeutic areas: endocrinology, immunology and inflammation, and metabolic diseases. This is one of the 10 best rebound stocks to invest in now.
On October 28, one insider acquired $68.91 million worth of Septerna shares at a price of $18 per share. Currently, the stock is trading at $6.16 having lost 73.10% since the beginning of the year. The biggest drop in the stock’s price of 57% happened on February 18 after the company announced it would stop the Phase 1 clinical trial of SEP-786. One of its previously leading drug candidates SEP-786 targets a GPCR implicated in hypoparathyroidism. The decision came after two participants in the trial experienced an unexpected increase in bilirubin levels, which is a potential sign of liver issues. The elevated bilirubin levels were reversible, and the company did not find any evidence of serious adverse events in the trial.
For the third quarter of 2024, the company reported revenue of $176,000, which compares to revenue of $33,000 in the same period of 2023. Net loss attributable to common stockholders amounted to $20.52 million, compared to a net loss of $10.95 million in the third quarter of 2023.
Four analysts have an average “Moderate Buy” on Septerna stock, with a price target of $34, according to MarketBeat.
