Septerna, Inc., a clinical-stage biotechnology company, discovers and develops G protein-coupled receptor (GPCR) oral small molecule products for the treatment of endocrinology, immunology and inflammation, and metabolic diseases.
FAIL · Does not pass the screen
38.69 USD
Screen close, 2026-09-18 · not a live quote Last reviewed 17 days ago
Screened 2026-09-18 · the tape above runs as of 13:03 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 38.69 against the desk's fair-value range, base estimate 51.00, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price38.69 USD
Fair value51.00
Ethical score70.0/100
Our investment reviews on this name
2026-10-02Read Accumulation38.69+0.0% to today ✓
2026-09-12Read Markdown40.47-4.4% to today ✓
2026-07-02Read Markup35.95+7.6% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Septerna, Inc. holds its Accumulation at $38.69. Consolidating, no directional conviction, held for 111 days.
As held on the ledger · 2026-09-18
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 111 days
Price at the screen
$38.69
Valuation
N/A trailing · -19.80 forward price to earnings
Values screen
FAIL· score 70.0
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
3.96%
Below 33%
Interest-bearing debt is just 4.0% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
26.43%
Below 33%
Cash held in interest-bearing accounts and securities is 26.4% of assets, under the one-third limit.
Pass
Receivables
21.99%
Below 49%
Money owed to the company is 22.0% of assets, under the 49% limit.
Pass
Revenue purity
42.50%
Below 5%
42.5% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Septerna, clears the business-activity screen, and its debt is inside the line. Where it falls short is income purity: around 43% of its income right now is interest earned on a large cash position, against a roughly 5% ceiling, so it does not pass. That reflects what it earns today, not the business itself, and it could clear the screen if its operating revenue grows and the interest share falls.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-09-18 screen. The gold marker is the market price at the same screen. A 31.8% margin of safety to the base estimate.
Third-party analyst targets: 9 covering, consensus Strong Buy. The average target sits +32% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-18 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Early stage bet on unproven oral drugs
A promising lab compound only matters once it survives years of trials and reaches patients who can actually take it as a pill. Septerna sits at that early point, chasing GPCR targets in endocrinology and inflammation with nothing yet on the market. The opportunity rating sits at none despite the analyst target and the headline margin of safety, because the business remains pre-revenue in any meaningful sense and carries the classic clinical-stage uncertainties.
Revenue has jumped from a negligible base, yet the firm still posts a fifty percent negative profit margin and negative return on equity. The forward multiple looks extreme because there are no earnings to measure against. Strong buy ratings from nine analysts reflect hope rather than proof, and an unknown moat leaves the company exposed to larger players that can replicate or outspend.
Risk sits around the usual biotech traps of trial failure, repeated cash raises, and binary outcomes that can wipe out value overnight. Currency and regulatory shifts add further noise. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; as a biotechnology name, trial and regulatory outcomes can move it sharply either way.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SEPN trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 4.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 34% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 196%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (8 analysts) rates it strong buy, with a mean price target of $44. Insiders have been net sellers over the past quarter.
2026-09-12Markdown · changed$40.47+21.2%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 21.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 34% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 196%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (8 analysts) rates it strong buy, with a mean price target of $44. Insiders have been net sellers over the past quarter.
2026-08-12Markup$33.40-7.1%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 7.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 34% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 196%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (8 analysts) rates it strong buy, with a mean price target of $44.
2026-07-18Markup$35.95+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 34% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 196%. Our forward projection puts the odds of a 10% gain over the next month near 36%. The street (8 analysts) rates it strong buy, with a mean price target of $44.
2026-07-03Markup$35.95+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$35.95Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.