Seaport Therapeutics (NASDAQ:SPTX) Stock Price Down 7.3% – What’s Next?

Seaport Therapeutics, Inc. (NASDAQ:SPTX)’s stock price fell 7.3% on Wednesday. The company traded as low as $20.25 and last traded at $20.37. 64,534 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 227,733 shares. The stock had previously closed at $21.97.

Wall Street Analysts Forecast Growth

SPTX has been the topic of several recent analyst reports. JonesTrading assumed 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 on the stock. JPMorgan Chase & Co. upped their target price on shares of Seaport Therapeutics from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. UBS Group reiterated a “buy” rating on shares of Seaport Therapeutics in a report on Thursday, October 8th. Seaport Research Partners set a $28.00 price target on shares of Seaport Therapeutics in a research report on Wednesday, October 14th. Finally, HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Seaport Therapeutics in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.12.

Seaport Therapeutics Stock Down 5.5%

The business’s 50-day simple moving average is $20.46. The company has a market capitalization of $1.08 billion and a price-to-earnings ratio of -1.60.

Seaport Therapeutics (NASDAQ:SPTX) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.09. On average, research analysts expect that Seaport Therapeutics, Inc. will post -4.30 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Denice Torres bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were acquired at an average price of $19.86 per share, with a total value of $99,300.00. Following the transaction, the director owned 5,000 shares in the company, valued at $99,300. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Seaport Therapeutics

Large investors have recently bought and sold shares of the company. TRV GP VI LLC bought a new position in Seaport Therapeutics in the second quarter valued at $44,769,742. Braidwell LP bought a new stake in Seaport Therapeutics during the 2nd quarter worth about $10,860,000. State Street Corp lifted its position in Seaport Therapeutics by 276.3% during the 3rd quarter. State Street Corp now owns 250,798 shares of the company’s stock worth $5,059,000 after buying an additional 184,148 shares in the last quarter. Citadel Advisors LLC bought a new stake in Seaport Therapeutics during the 2nd quarter worth about $4,152,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Seaport Therapeutics during the 2nd quarter worth about $1,793,000.

Seaport Therapeutics Company Profile

Seaport Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric disorders. The company uses its Glyph platform to design oral prodrugs intended to improve the delivery of therapies that can be difficult to administer or absorb by mouth. Its pipeline includes SPT-300, an oral prodrug of allopregnanolone being developed for depression. Seaport was launched in 2024 and is headquartered in Boston, Massachusetts. Its leadership includes founder and Chief Executive Officer Daphne Zohar.