Seaport Therapeutics, Inc. (NASDAQ:SPTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Seaport Therapeutics, Inc. (NASDAQ:SPTX) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $35.50.

A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Seaport Therapeutics to a “hold” rating in a research report on Saturday, May 9th. Leerink Partners initiated coverage on Seaport Therapeutics in a report on Tuesday. They set an “outperform” rating and a $35.00 price target for the company. Citigroup began coverage on Seaport Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. began coverage on Seaport Therapeutics in a research note on Tuesday. They set an “overweight” rating and a $42.00 target price for the company. Finally, BNP Paribas Exane cut Seaport Therapeutics to a “market perform” rating in a research note on Tuesday.

Seaport Therapeutics Price Performance

Shares of NASDAQ:SPTX traded up $0.52 during midday trading on Tuesday, hitting $18.02. The stock had a trading volume of 26,436 shares, compared to its average volume of 393,304. Seaport Therapeutics has a 12 month low of $14.85 and a 12 month high of $23.00.

Insider Activity at Seaport Therapeutics

In related news, major shareholder Arch Venture Partners Xii, Llc bought 1,100,000 shares of Seaport Therapeutics stock in a transaction that occurred on Monday, May 4th. The stock was acquired at an average price of $18.00 per share, with a total value of $19,800,000.00. Following the acquisition, the insider owned 6,294,951 shares of the company’s stock, valued at approximately $113,309,118. This represents a 21.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.