Septerna (SEPN)
Market Price (8/16/2026): $44.53 | Market Cap: $2.0 BilSector: Health Care | Industry: Biotechnology
Septerna (SEPN)
Market Price (8/16/2026): $44.53Market Cap: $2.0 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 13520% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 107%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 106% Attractive yieldFCF Yield is 5.2% Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies. | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 14.15 | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -56 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -57% Stock price has recently run up significantly12M Rtn12 month market price return is 280% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 16% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.7% Key risksSEPN key risks include [1] the recent clinical trial failure and discontinuation of its lead asset, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 13520% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 107%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 106% |
| Attractive yieldFCF Yield is 5.2% |
| Megatrend and thematic driversMegatrends include Precision Medicine. Themes include Biopharmaceutical R&D, and Targeted Therapies. |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 14.15 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -56 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -57% |
| Stock price has recently run up significantly12M Rtn12 month market price return is 280% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 16% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.7% |
| Key risksSEPN key risks include [1] the recent clinical trial failure and discontinuation of its lead asset, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Septerna (SEPN) stock has gained about 85% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Financial Results Exceeding Expectations: Septerna reported revenue of $26.7 million for fiscal Q2 2026 (ended June 30, 2026), a significant increase from $0.1 million in fiscal Q2 2025, and narrowed its net loss to $13.0 million from $24.8 million in the prior-year quarter. This performance notably surpassed analyst estimates, which had anticipated a loss of $0.43 per share and revenue of $19.22 million, while Septerna reported a loss of $0.29 per share and revenue of $26.75 million.
2. Advancements in Key Clinical Pipeline Candidates: Septerna initiated a Phase 1 clinical trial for SEP-479, an oral PTH1R agonist for hypoparathyroidism, in April 2026. Preclinical data for SEP-479, presented at ENDO 2026 in June 2026, supported its potential as a once-daily oral treatment, with an observed elimination half-life of approximately three to four days in the Phase 1 trial. Additionally, positive Phase 1 clinical results for SEP-631, an oral MRGPRX2 NAM for mast cell-driven diseases, were reported in March 2026, supporting its advancement into Phase 2 development.
Show more
Septerna (SEPN) stock has gained about 85% since 4/30/2026 because of the following key factors:
1. Strong Fiscal Q2 2026 Financial Results Exceeding Expectations: Septerna reported revenue of $26.7 million for fiscal Q2 2026 (ended June 30, 2026), a significant increase from $0.1 million in fiscal Q2 2025, and narrowed its net loss to $13.0 million from $24.8 million in the prior-year quarter. This performance notably surpassed analyst estimates, which had anticipated a loss of $0.43 per share and revenue of $19.22 million, while Septerna reported a loss of $0.29 per share and revenue of $26.75 million.
2. Advancements in Key Clinical Pipeline Candidates: Septerna initiated a Phase 1 clinical trial for SEP-479, an oral PTH1R agonist for hypoparathyroidism, in April 2026. Preclinical data for SEP-479, presented at ENDO 2026 in June 2026, supported its potential as a once-daily oral treatment, with an observed elimination half-life of approximately three to four days in the Phase 1 trial. Additionally, positive Phase 1 clinical results for SEP-631, an oral MRGPRX2 NAM for mast cell-driven diseases, were reported in March 2026, supporting its advancement into Phase 2 development.
3. Substantial Revenue from Novo Nordisk Collaboration: The company's collaboration with Novo Nordisk significantly contributed to its financial performance, generating $26.7 million in revenue during fiscal Q2 2026. This revenue included $14.6 million from the amortization of an upfront payment and $0.9 million from the achievement of research milestones.
4. Widespread Positive Analyst Sentiment and Raised Price Targets: Following the fiscal Q2 2026 results and pipeline updates, numerous analysts upgraded their price targets and reiterated favorable ratings for Septerna. For instance, Wells Fargo raised its price target from $48 to $50, HC Wainwright increased its target from $40 to $60, and Raymond James adjusted its target from $49 to $53. The consensus analyst rating for SEPN remained "Strong Buy" or "Moderate Buy," with an average price target ranging from approximately $49 to $51.
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Stock Movement Drivers
Fundamental Drivers
The 87.3% change in SEPN stock from 4/30/2026 to 8/15/2026 was primarily driven by a 115.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302026 | 8152026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.76 | 44.50 | 87.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 46 | 99 | 115.2% |
| P/S Multiple | 23.1 | 20.3 | -12.1% |
| Shares Outstanding (Mil) | 45 | 45 | -1.0% |
| Cumulative Contribution | 87.3% |
Market Drivers
4/30/2026 to 8/15/2026| Return | Correlation | |
|---|---|---|
| SEPN | 87.3% | |
| Market (SPY) | 8.0% | 14.1% |
| Sector (XLV) | 14.6% | 8.0% |
Fundamental Drivers
The 90.7% change in SEPN stock from 1/31/2026 to 8/15/2026 was primarily driven by a 348.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312026 | 8152026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.34 | 44.50 | 90.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 22 | 99 | 348.5% |
| P/S Multiple | 46.9 | 20.3 | -56.8% |
| Shares Outstanding (Mil) | 44 | 45 | -1.5% |
| Cumulative Contribution | 90.7% |
Market Drivers
1/31/2026 to 8/15/2026| Return | Correlation | |
|---|---|---|
| SEPN | 90.7% | |
| Market (SPY) | 12.5% | 19.9% |
| Sector (XLV) | 8.6% | 14.4% |
Fundamental Drivers
The 258.6% change in SEPN stock from 7/31/2025 to 8/15/2026 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 7312025 | 8152026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.41 | 44.50 | 258.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 99 | 0.0% |
| P/S Multiple | � | 20.3 | 0.0% |
| Shares Outstanding (Mil) | 42 | 45 | -6.7% |
| Cumulative Contribution | 0.0% |
Market Drivers
7/31/2025 to 8/15/2026| Return | Correlation | |
|---|---|---|
| SEPN | 258.6% | |
| Market (SPY) | 23.9% | 18.5% |
| Sector (XLV) | 30.0% | 14.7% |
Fundamental Drivers
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Market Drivers
7/31/2023 to 8/15/2026| Return | Correlation | |
|---|---|---|
| SEPN | ||
| Market (SPY) | 75.6% | 23.1% |
| Sector (XLV) | 30.6% | 12.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SEPN Return | - | - | - | 7% | 22% | 62% | 111% |
| Peers Return | 36% | 28% | 58% | 34% | 11% | 24% | 408% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| SEPN Win Rate | - | - | - | 67% | 58% | 62% | |
| Peers Win Rate | 55% | 55% | 58% | 55% | 45% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SEPN Max Drawdown | - | - | - | - | -79% | -25% | |
| Peers Max Drawdown | -27% | -31% | -29% | -33% | -39% | -27% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CRNX, LLY, VKTX, REGN, AMGN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/14/2026 (YTD)
About Septerna (SEPN)
Septerna (SEPN) is a clinical-stage biotechnology company dedicated to discovering and developing a new generation of oral small molecule drugs that target G protein-coupled receptors (GPCRs). The company’s core innovation is its proprietary Native Complex Platform™, which addresses historical challenges in GPCR drug discovery. This platform allows Septerna to isolate, purify, and reconstitute full-length, functional GPCR proteins in a cell-mimicking environment at an industrial scale, enabling state-of-the-art structure-based drug design and optimization.
GPCRs are a vast family of cell membrane receptors vital for regulating nearly every physiological process, making them the most successful drug target class in history. Despite this, a significant portion of potential GPCR targets remains undrugged. Septerna’s Native Complex Platform™ is designed to unlock these untapped opportunities by precisely targeting specific GPCRs, identifying novel binding pockets, and developing various pharmacologies, including agonists (activators), antagonists (inhibitors), and allosteric modulators (fine-tuners), to create highly effective oral small molecule therapies.
The company is building a deep pipeline of these oral GPCR-targeted programs. Septerna initially focuses on developing medicines for patients with significant unmet needs in three key therapeutic areas: endocrinology, immunology and inflammation, and metabolic diseases. It also plans to explore opportunities in other major therapeutic areas such as neurology, women’s health, cardiovascular, and respiratory diseases, aiming to become a leader in oral GPCR-targeted medicines.
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Here are a few analogies to describe Septerna:
Moderna for GPCR drug discovery
CRISPR Therapeutics for GPCRs
AI Analysis | Feedback
- Oral small molecule drug candidates for endocrinology: These are novel GPCR-targeted therapies in Septerna's pipeline aimed at treating endocrine diseases.
- Oral small molecule drug candidates for immunology and inflammation: These are novel GPCR-targeted therapies in Septerna's pipeline aimed at treating immune and inflammatory conditions.
- Oral small molecule drug candidates for metabolic diseases: These are novel GPCR-targeted therapies in Septerna's pipeline aimed at treating metabolic disorders.
AI Analysis | Feedback
Septerna (SEPN) is a clinical-stage biotechnology company focused on the discovery and development of oral small molecule drugs targeting G protein-coupled receptors (GPCRs). As such, its ultimate customers are not other companies, but individual patients who will be prescribed these medications once they are developed, approved, and commercialized.
The categories of customers (patients) that Septerna aims to serve are primarily those suffering from diseases within its initial three therapeutic areas:
- Patients with endocrinology-related diseases.
- Patients with immunology and inflammation-related diseases.
- Patients with metabolic diseases.
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Jeffrey Finer, Chief Executive Officer & Co-Founder
Jeffrey Finer was appointed CEO of Septerna in November 2021 and is also a co-founder of the company. He has a background in founding and launching multiple new biotechnology companies, including Maze Therapeutics and Ambys Medicines. Dr. Finer has held R&D leadership positions at Theravance Biopharma, Five Prime Therapeutics, and Cytokinetics. He also serves as a Venture Partner at Third Rock Ventures, which led Septerna's Series A financing and retained a minority stake after the company's IPO, indicating a pattern of managing companies backed by private equity firms.
Gil Labrucherie, Chief Financial Officer
Gil Labrucherie was appointed Chief Financial Officer of Septerna effective January 6, 2025. He brings over 25 years of senior leadership experience in finance and legal roles within public biopharmaceutical and technology companies. Prior to Septerna, Mr. Labrucherie served as CFO and Chief Business Officer at ACELYRIN, and as CFO, COO, and SVP/General Counsel at Nektar Therapeutics. He has a track record of raising over $1.5 billion in private and public equity capital and generating over $1 billion in realized value from strategic partnering transactions. Earlier in his career, he held executive leadership positions at various high-growth technology companies. He currently serves on the board of Rezolute, Inc.
Liz Bhatt, President and Chief Operating Officer
Liz Bhatt joined Septerna as Chief Operating Officer in July 2022 and brings over 25 years of experience in strategy, deal-making, and company-building across biotech and pharmaceutical companies. Her previous roles include Chief Business & Strategy Officer at Applied Molecular Transport (AMT) and Chief Operating Officer at Achaogen. Ms. Bhatt also spent over a decade at Gilead Sciences, holding positions as VP, Corporate Development and Senior Director, Commercial Strategy.
Daniel Long, Senior Vice President, Drug Discovery
Daniel Long serves as the Senior Vice President of Drug Discovery at Septerna.
Jae Kim, Chief Medical Officer
Jae Kim holds the position of Chief Medical Officer at Septerna.
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The key risks for Septerna (SEPN) are primarily associated with the inherent challenges of drug development in the biotechnology sector and the reliance on its proprietary technology.
- Clinical Development and Regulatory Approval Risk: As a clinical-stage biotechnology company, Septerna's success is entirely contingent upon the successful development, clinical trial completion, and regulatory approval of its product candidates. Drug development is a lengthy, costly, and highly uncertain process with a high rate of failure at every stage, from preclinical studies to post-marketing. The company currently has a deep pipeline of product candidates, but none have yet reached commercialization, meaning there is no current revenue from drug sales. Failure to achieve favorable results in clinical trials or obtain necessary regulatory approvals would significantly impair or prevent the commercialization of its product candidates and, consequently, its ability to generate revenue.
- Platform Technology Risk: Septerna's entire drug discovery and development strategy is powered by its proprietary Native Complex Platform™. The company asserts that this platform uniquely replicates the natural structure, function, and dynamics of GPCRs outside of cells at an industrial scale, enabling the discovery of novel oral small molecule drug candidates. There is a risk that this platform may not consistently or effectively deliver viable drug candidates, or that its purported advantages over traditional drug discovery methods may not materialize as expected. If the platform proves less effective or less efficient than anticipated in identifying or optimizing drug candidates, Septerna's ability to build and advance its pipeline would be significantly hampered.
- Intellectual Property Risk: Septerna's business relies heavily on its proprietary Native Complex Platform™ and the intellectual property surrounding its drug candidates. The ability to protect its proprietary technology and future product candidates through patents, trade secrets, and other intellectual property rights is crucial for its competitive position. Challenges to the validity or enforceability of its existing or future patents, the inability to obtain new patent protection, or the unauthorized use or infringement of its intellectual property by third parties could significantly diminish its competitive advantage and its ability to monetize its discoveries.
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Share Repurchases
No information is available regarding share repurchases made by Septerna in the last 3-5 years. The reported "Buyback Yield" of -1,704.89% indicates share issuance rather than repurchases.
Share Issuance
- Septerna completed its upsized Initial Public Offering (IPO) on October 30, 2024, raising aggregate gross proceeds of $331.2 million by issuing 18,400,000 shares of common stock at $18.00 per share.
- The number of shares outstanding for Septerna increased by 1,704.89% in one year.
Inbound Investments
- In May 2025, Septerna announced a significant collaboration and license agreement with Novo Nordisk, valued at up to $2.2 billion, focused on developing oral medicines for obesity and other diseases.
- Revenue for Q4 2025 and the full year 2025 primarily reflected this collaboration work and the amortization of an upfront payment from Novo Nordisk.
Outbound Investments
No information is available regarding outbound investments made by Septerna in the last 3-5 years.
Capital Expenditures
- Capital expenditures for the full year 2025 were reported as $2.1 million.
- In the 12 months leading up to November 10, 2025, capital expenditures were -$1.07 million.
- These capital expenditures consumed a significant portion of the company's operating cash flow in 2025.
Peer Outperformance in Biotechnology
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 7 | 8.0% | 74.9% | 121.6% | CAH 400% · MCK 346% · COR 176% |
| Health Care Services | 20 | 20.1% | 37.0% | 6.5% | HIMS 277% · RDNT 130% · DGX 71% |
| Managed Health Care | 8 | 36.7% | -2.3% | 5.2% | OSCR 167% · HQY 61% · ELV 14% |
| Health Care Facilities | 24 | 9.7% | -2.9% | -15.8% | THC 277% · NHC 240% · ENSG 120% |
| Health Care Equipment | 50 | -0.2% | -10.8% | -19.2% | POCI 10862% · UFPT 415% · GKOS 275% |
| Health Care Supplies | 12 | 39.2% | -12.9% | -26.9% | LNTH 304% · HAE 54% · MMSI 36% |
| Pharmaceuticals | 63 | 3.1% | -5.9% | -30.8% | LQDA 2752% · INDV 1525% · ETON 1288% |
| Health Care Technology | 21 | -21.4% | -53.0% | -71.5% | SPOK 144% · TALK -2% · HSTM -4% |
| Life Sciences Tools & Services | 108 | -6.6% | -33.4% | -71.9% | SNWV 1835% · ELMD 259% · MEDP 213% |
| Biotechnology ← | 365 | 7.1% | -28.4% | -78.4% | BRTX 112850% · DNTH 1698% · CELZ 1643% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| With Septerna Stock Surging, Have You Considered The Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 249.95 |
| Mkt Cap | 45.8 |
| Rev LTM | 7,817 |
| Op Inc LTM | 2,059 |
| FCF LTM | 1,840 |
| FCF 3Y Avg | 1,642 |
| CFO LTM | 2,394 |
| CFO 3Y Avg | 2,245 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 49.6% |
| Rev Chg 3Y Avg | 26.1% |
| Rev Chg Q | 47.7% |
| QoQ Delta Rev Chg LTM | 10.3% |
| Op Inc Chg LTM | 22.8% |
| Op Inc Chg 3Y Avg | -1.7% |
| Op Mgn LTM | 26.9% |
| Op Mgn 3Y Avg | 24.5% |
| QoQ Delta Op Mgn LTM | 2.4% |
| CFO/Rev LTM | 32.8% |
| CFO/Rev 3Y Avg | 22.5% |
| FCF/Rev LTM | 23.0% |
| FCF/Rev 3Y Avg | 2.5% |
Price Behavior
| Market Price | $44.50 | |
| Market Cap ($ Bil) | 2.0 | |
| First Trading Date | 10/25/2024 | |
| Distance from 52W High | -7.7% | |
| 50 Days | 200 Days | |
| DMA Price | $35.02 | $28.06 |
| DMA Trend | up | up |
| Distance from DMA | 27.1% | 58.6% |
| 3M | 1YR | |
| Volatility | 78.4% | 69.4% |
| Downside Capture | -128.91 | 52.25 |
| Upside Capture | 121.69 | 194.70 |
| Correlation (SPY) | 14.1% | 19.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.99 | 0.32 | 0.82 | 1.01 | 0.98 | -0.25 |
| Up Beta | 3.08 | 2.09 | 2.55 | 0.89 | 1.08 | 0.38 |
| Down Beta | 0.68 | -0.21 | 0.01 | -0.80 | -0.21 | -0.69 |
| Up Capture | 72% | 44% | 153% | 238% | 298% | 80% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 11 | 21 | 30 | 62 | 123 | 213 |
| Down Capture | 30% | -45% | -25% | 124% | 93% | 98% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 11 | 22 | 33 | 63 | 128 | 221 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SEPN | |
|---|---|---|---|---|
| SEPN | 282.7% | 69.1% | 2.21 | - |
| Sector ETF (XLV) | 27.3% | 15.5% | 1.36 | 15.2% |
| Equity (SPY) | 21.5% | 12.8% | 1.25 | 19.2% |
| Gold (GLD) | 30.0% | 28.5% | 0.91 | 8.1% |
| Commodities (DBC) | 38.1% | 20.1% | 1.49 | -13.2% |
| Real Estate (VNQ) | 14.4% | 13.9% | 0.73 | 8.2% |
| Bitcoin (BTCUSD) | -49.1% | 42.8% | -1.45 | 7.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SEPN | |
|---|---|---|---|---|
| SEPN | 16.9% | 92.9% | 0.90 | - |
| Sector ETF (XLV) | 6.3% | 15.0% | 0.24 | 12.6% |
| Equity (SPY) | 13.4% | 17.2% | 0.60 | 23.0% |
| Gold (GLD) | 19.5% | 18.6% | 0.85 | -2.7% |
| Commodities (DBC) | 9.6% | 19.6% | 0.38 | -9.6% |
| Real Estate (VNQ) | 2.3% | 18.9% | 0.02 | 10.7% |
| Bitcoin (BTCUSD) | 8.0% | 52.8% | 0.34 | 10.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SEPN | |
|---|---|---|---|---|
| SEPN | 8.1% | 92.9% | 0.90 | - |
| Sector ETF (XLV) | 10.2% | 16.6% | 0.50 | 12.6% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 23.0% |
| Gold (GLD) | 12.0% | 16.2% | 0.60 | -2.7% |
| Commodities (DBC) | 7.7% | 18.0% | 0.34 | -9.6% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 10.7% |
| Bitcoin (BTCUSD) | 59.9% | 66.1% | 1.00 | 10.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/13/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | 22.9% | ||
| 5/11/2026 | 5.4% | 11.6% | 29.3% |
| 3/9/2026 | -3.6% | -13.5% | -15.7% |
| 11/10/2025 | -2.2% | 25.7% | 38.5% |
| 8/11/2025 | -2.5% | 0.9% | 28.1% |
| 5/15/2025 | -2.8% | -6.3% | 4.2% |
| 3/27/2025 | 2.4% | -10.5% | 5.2% |
| 11/20/2024 | -3.2% | 10.1% | 7.9% |
| SUMMARY STATS | |||
| # Positive | 3 | 4 | 6 |
| # Negative | 5 | 3 | 1 |
| Median Positive | 5.4% | 10.9% | 18.0% |
| Median Negative | -2.8% | -10.5% | -15.7% |
| Max Positive | 22.9% | 25.7% | 38.5% |
| Max Negative | -3.6% | -13.5% | -15.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | 22.9% | ||
| 5/11/2026 | 5.4% | 11.6% | 29.3% |
| 3/9/2026 | -3.6% | -13.5% | -15.7% |
| 11/10/2025 | -2.2% | 25.7% | 38.5% |
| 8/11/2025 | -2.5% | 0.9% | 28.1% |
| 5/15/2025 | -2.8% | -6.3% | 4.2% |
| 3/27/2025 | 2.4% | -10.5% | 5.2% |
| 11/20/2024 | -3.2% | 10.1% | 7.9% |
| SUMMARY STATS | |||
| # Positive | 3 | 4 | 6 |
| # Negative | 5 | 3 | 1 |
| Median Positive | 5.4% | 10.9% | 18.0% |
| Median Negative | -2.8% | -10.5% | -15.7% |
| Max Positive | 22.9% | 25.7% | 38.5% |
| Max Negative | -3.6% | -13.5% | -15.7% |
Recent Forward Guidance
Updated 8/11/2026Latest: Q2 2026 Earnings Reported 8/10/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2029 Cash Runway | Affirmed | Guidance: 2,029 for 2029 | |||||
Insider Activity
Updated 8/13/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bhatt, Elizabeth | President and COO | Direct | Sell | 8132026 | 44.00 | 25,000 | 1,100,000 | 7,665,196 | Form |
| 2 | Long, Daniel D | SVP, Drug Discovery | Direct | Sell | 8052026 | 34.47 | 3,334 | 114,920 | 3,323,232 | Form |
| 3 | Bhatt, Elizabeth | President and COO | Direct | Sell | 7172026 | 33.99 | 4,000 | 135,974 | 5,921,974 | Form |
| 4 | Long, Daniel D | SVP, Drug Discovery | Direct | Sell | 7022026 | 34.36 | 3,333 | 114,528 | 3,312,900 | Form |
| 5 | Shaikhly, Samira | Chief People Officer | Direct | Sell | 6302026 | 35.18 | 2,178 | 76,622 | 27,898 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bhatt, Elizabeth | President and COO | Direct | Sell | 8132026 | 44.00 | 25,000 | 1,100,000 | 7,665,196 | Form |
| 2 | Long, Daniel D | SVP, Drug Discovery | Direct | Sell | 8052026 | 34.47 | 3,334 | 114,920 | 3,323,232 | Form |
| 3 | Bhatt, Elizabeth | President and COO | Direct | Sell | 7172026 | 33.99 | 4,000 | 135,974 | 5,921,974 | Form |
| 4 | Long, Daniel D | SVP, Drug Discovery | Direct | Sell | 7022026 | 34.36 | 3,333 | 114,528 | 3,312,900 | Form |
| 5 | Shaikhly, Samira | Chief People Officer | Direct | Sell | 6302026 | 35.18 | 2,178 | 76,622 | 27,898 | Form |
| 6 | Long, Daniel D | SVP, Drug Discovery | Direct | Sell | 6242026 | 35.51 | 15,000 | 532,582 | 3,423,151 | Form |
| 7 | Shaikhly, Samira | Chief People Officer | Direct | Sell | 6162026 | 35.08 | 6,250 | 219,224 | 27,815 | Form |
| 8 | Shaikhly, Samira | Chief People Officer | Direct | Sell | 6032026 | 28.93 | 5,935 | 171,682 | 22,939 | Form |
| 9 | Shaikhly, Samira | Chief People Officer | Direct | Sell | 5282026 | 30.06 | 11,798 | 354,656 | 23,838 | Form |
| 10 | Bhatt, Elizabeth | President and COO | Direct | Sell | 4172026 | 24.34 | 4,000 | 97,343 | 4,239,522 | Form |
| 11 | Shaikhly, Samira | Chief People Officer | Direct | Sell | 3042026 | 28.10 | 70,453 | 1,979,838 | 22,285 | Form |
| 12 | Bhatt, Elizabeth | President and COO | Direct | Sell | 2202026 | 28.97 | 4,000 | 115,860 | 5,045,975 | Form |
| 13 | Long, Daniel D | SVP, Drug Discovery | Direct | Sell | 11132025 | 18.06 | 3,501 | 63,223 | 1,677,843 | Form |
Investor Activity (13F)
Updated Aug 16, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| TRV GP V, LLC | $149.4 Mil | 37.2% | 3 | Hold | 13F |
| Samsara Biocapital, LLC | $75.7 Mil | 7.4% | 22 | Hold | 13F |
| First Light Asset Management, LLC | $17.6 Mil | 1.6% | 35 | ADD +18.0% | 13F |
| Catalio Capital Management, LP | $7.1 Mil | 1.5% | 41 | Hold | 13F |
| BVF Inc/Il | $32.5 Mil | 1.0% | 41 | TRIM -21.4% | 13F |
| Casdin Capital, LLC | $13.3 Mil | 1.0% | 40 | Hold | 13F |
| Venrock Adviser, LLC | $12.2 Mil | 0.5% | 33 | TRIM -17.1% | 13F |
| Avoro Capital Advisors LLC | $32.1 Mil | 0.3% | 30 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| TRV GP V, LLC | $149.4 Mil | 37.2% | 3 | Hold | 13F |
| Samsara Biocapital, LLC | $75.7 Mil | 7.4% | 22 | Hold | 13F |
| BVF Inc/Il | $32.5 Mil | 1.0% | 41 | TRIM -21.4% | 13F |
| Avoro Capital Advisors LLC | $32.1 Mil | 0.3% | 30 | Hold | 13F |
| First Light Asset Management, LLC | $17.6 Mil | 1.6% | 35 | ADD +18.0% | 13F |
| Casdin Capital, LLC | $13.3 Mil | 1.0% | 40 | Hold | 13F |
| Venrock Adviser, LLC | $12.2 Mil | 0.5% | 33 | TRIM -17.1% | 13F |
| Catalio Capital Management, LP | $7.1 Mil | 1.5% | 41 | Hold | 13F |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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