Seaport Therapeutics (NASDAQ:SPTX) Shares Gap Up – Should You Buy?

Seaport Therapeutics, Inc. (NASDAQ:SPTX)’s stock price gapped up before the market opened on Thursday. The stock had previously closed at $18.69, but opened at $20.12. Seaport Therapeutics shares last traded at $19.91, with a volume of 5,471 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Raymond James Financial started coverage on shares of Seaport Therapeutics in a research note on Friday, September 25th. They issued a “strong-buy” rating and a $46.00 price objective on the stock. UBS Group downgraded shares of Seaport Therapeutics to a “sell” rating in a report on Tuesday, June 9th. JonesTrading initiated coverage on shares of Seaport Therapeutics in a research note on Wednesday, August 26th. They set a “buy” rating and a $32.00 price objective for the company. Wolfe Research began coverage on Seaport Therapeutics in a research report on Tuesday, July 7th. They set a “hold” rating for the company. Finally, Seaport Research Partners set a $46.00 target price on Seaport Therapeutics in a research note on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Seaport Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $38.57.

Seaport Therapeutics Stock Performance

The firm’s 50 day moving average is $22.78. The stock has a market capitalization of $1.07 billion and a price-to-earnings ratio of -1.65.

Seaport Therapeutics (NASDAQ:SPTX) last released its earnings results on Monday, August 3rd. The company reported ($1.78) EPS for the quarter, missing the consensus estimate of ($0.71) by ($1.07). As a group, research analysts forecast that Seaport Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Institutional Investors Weigh In On Seaport Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TRV GP VI LLC acquired a new stake in Seaport Therapeutics during the 2nd quarter worth approximately $44,769,742. Braidwell LP acquired a new stake in Seaport Therapeutics during the 2nd quarter valued at $10,860,000. Citadel Advisors LLC purchased a new stake in shares of Seaport Therapeutics during the second quarter worth about $4,152,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Seaport Therapeutics during the second quarter worth about $1,793,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Seaport Therapeutics in the second quarter worth about $1,629,000.

Seaport Therapeutics Company Profile

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company is working to advance treatments for conditions in areas such as psychiatry and neurology, with the goal of addressing significant limitations associated with existing therapies.

Seaport’s drug-development efforts are supported by its proprietary Glyph platform, which is designed to enable oral delivery of therapeutics that have historically required injection or infusion.