Seaport Therapeutics (NASDAQ:SPTX) Upgraded to Hold at Zacks Research

Seaport Therapeutics (NASDAQ:SPTX) was upgraded by stock analysts at Zacks Research to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus started coverage on shares of Seaport Therapeutics in a research note on Tuesday. They set a “buy” rating and a $30.00 price target for the company. Seaport Research Partners set a $42.00 price target on shares of Seaport Therapeutics in a research note on Tuesday. BNP Paribas Exane cut shares of Seaport Therapeutics to a “market perform” rating in a research note on Tuesday. Leerink Partners assumed coverage on shares of Seaport Therapeutics in a research report on Tuesday. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Citigroup assumed coverage on shares of Seaport Therapeutics in a research report on Tuesday. They set a “buy” rating and a $35.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Seaport Therapeutics Stock Up 4.2%

Shares of NASDAQ:SPTX opened at $18.80 on Wednesday. Seaport Therapeutics has a 1-year low of $14.85 and a 1-year high of $23.00.

Insider Buying and Selling

In other news, major shareholder Arch Venture Partners Xii, Llc acquired 1,100,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was bought at an average price of $18.00 per share, for a total transaction of $19,800,000.00. Following the transaction, the insider owned 6,294,951 shares in the company, valued at $113,309,118. This represents a 21.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.