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

Seaport Therapeutics, Inc. (NASDAQ:SPTX) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $37.3333.

Several brokerages have recently issued reports on SPTX. Leerink Partners assumed coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They issued an “outperform” rating and a $35.00 target price on the stock. UBS Group downgraded Seaport Therapeutics to a “sell” rating in a report on Tuesday, June 9th. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Seaport Therapeutics in a report on Thursday, August 20th. BNP Paribas Exane lowered Seaport Therapeutics to a “market perform” rating in a report on Tuesday, May 26th. Finally, JonesTrading began coverage on Seaport Therapeutics in a research report on Wednesday, August 26th. They set a “buy” rating and a $32.00 price objective for the company.

Seaport Therapeutics Trading Up 5.5%

Shares of NASDAQ SPTX opened at $24.91 on Thursday. Seaport Therapeutics has a 12-month low of $14.85 and a 12-month high of $28.38. The stock’s 50-day moving average is $22.13. The firm has a market cap of $1.33 billion and a P/E ratio of -2.06.

Seaport Therapeutics (NASDAQ:SPTX) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($1.78) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($1.07). On average, research analysts predict that Seaport Therapeutics will post -4.6 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert J. Hombach purchased 13,000 shares of Seaport Therapeutics stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of $18.14 per share, with a total value of $235,820.00. Following the transaction, the director directly owned 13,000 shares in the company, valued at $235,820. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.

Institutional Trading of Seaport Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SPTX. TRV GP VI LLC acquired a new position in Seaport Therapeutics during the second quarter worth $44,769,742. Alyeska Investment Group L.P. bought a new position in Seaport Therapeutics in the second quarter valued at $1,629,000. HighTower Advisors LLC acquired a new stake in Seaport Therapeutics in the 2nd quarter valued at $362,000. Citadel Advisors LLC bought a new stake in Seaport Therapeutics during the 2nd quarter worth about $4,152,000. Finally, Braidwell LP acquired a new position in shares of Seaport Therapeutics during the 2nd quarter worth about $10,860,000.

About Seaport Therapeutics

Seaport Therapeutics Inc is a clinical-stage therapeutics company focused on inventing and developing new medicines for patients with depression, anxiety and other debilitating neuropsychiatric disorders. Seaport Therapeutics Inc is based in BOSTON.