Seaport Therapeutics (NASDAQ:SPTX) Coverage Initiated at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. started coverage on shares of Seaport Therapeutics (NASDAQ:SPTX) in a report released on Tuesday. The brokerage set an “overweight” rating and a $42.00 price target on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 140.00% from the stock’s previous close.

SPTX has been the topic of several other reports. Seaport Research Partners set a $42.00 target price on Seaport Therapeutics in a research report on Tuesday. Wall Street Zen raised Seaport Therapeutics to a “hold” rating in a research report on Saturday, May 9th. Stifel Nicolaus set a $30.00 price target on Seaport Therapeutics and gave the stock a “buy” rating in a research report on Tuesday. Leerink Partners assumed coverage on Seaport Therapeutics in a research report on Tuesday. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Citigroup assumed coverage on Seaport Therapeutics in a research report on Tuesday. They set a “buy” rating and a $35.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Seaport Therapeutics Stock Performance

NASDAQ SPTX opened at $17.50 on Tuesday. Seaport Therapeutics has a 1 year low of $14.85 and a 1 year high of $23.00.

Insider Activity

In other news, major shareholder Arch Venture Partners Xii, Llc bought 1,100,000 shares of the stock in a transaction dated Monday, May 4th. The shares were acquired at an average cost of $18.00 per share, with a total value of $19,800,000.00. Following the purchase, the insider directly owned 6,294,951 shares in the company, valued at $113,309,118. The trade was a 21.17% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.