On June 22, 2026, Daniel D. Long, Senior Vice President of Drug Discovery at Septerna, Inc. (NASDAQ: SEPN), executed a series of equity transactions that resulted in the sale of $532,581 worth of company shares. The sales were carried out under a Rule 10b5-1 trading plan established by Long on March 20, 2026, a structured arrangement designed to facilitate pre-scheduled divestitures. The timing of the sale places it near Septerna’s recent price peak, with the stock trading at $36.05, a level close to its 52-week high of $37.99. This valuation reflects a substantial 237% appreciation over the preceding 12 months. According to InvestingPro analysis, the stock currently trades at a premium relative to its estimated fair value, positioning it among a list of overvalued equities. Septerna maintains a market capitalization of $1.62 billion at the time of the transaction.
Long’s divestiture involved the disposal of 15,000 shares executed through two distinct blocks. The first block consisted of 8,000 shares sold at a weighted average price ranging between $34.70 and $35.64. The second block comprised 7,000 shares, sold at a weighted average price ranging from $35.71 to $36.34. The aggregate proceeds from these sales totaled $532,581. Prior to executing these sales on the same day, Long acquired 15,000 shares through the exercise of stock options, a transaction valued at $81,370. The exercise prices for these options ranged from $2.76 to $11.70 per share. Specifically, 10,529 shares were exercised at $2.76 per share, and 4,471 shares were exercised at $11.70 per share. These options were subject to vesting schedules contingent upon Long’s continuous service to the company.
Following the completion of these transactions, Long’s direct holdings in Septerna stood at 96,412 shares. This position includes 3,501 shares acquired under the Septerna, Inc. 2024 Employee Stock Purchase Plan on April 30, 2026. The stock exhibited a closing price of $36.05, reflecting a daily decline of $0.52 or 1.42%. After-hours trading showed no significant movement, with the price remaining at $36.05.
Septerna’s operational developments continue to draw analyst attention. The company announced the commencement of its Phase 1 clinical trial for SEP-479, an oral small molecule candidate targeting hypoparathyroidism. The trial is designed to enroll up to 150 healthy adult volunteers and will utilize a randomized, placebo-controlled methodology to evaluate safety and efficacy. H.C. Wainwright reiterated its Buy rating on Septerna and maintained a $40 price target following the trial announcement. Raymond James also adjusted its outlook, raising its price target to $53 from $47, citing the company’s promising pipeline assets as a basis for its Strong Buy rating.
Additional clinical progress includes positive Phase 1 results for SEP-631, which demonstrated a favorable pharmacokinetic profile and significant suppression of icatibant-induced skin wheal formation. Septerna is preparing to initiate a Phase 2b trial for SEP-631 in chronic spontaneous urticaria during the latter half of 2026. These developments highlight the company’s continued advancement of its drug candidates through clinical stages.