Seaport Therapeutics (NASDAQ:SPTX) Sets New 52-Week High – Here’s Why

Seaport Therapeutics, Inc. (NASDAQ:SPTX) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $26.47 and last traded at $25.38, with a volume of 4329 shares traded. The stock had previously closed at $24.31.

Analysts Set New Price Targets

SPTX has been the topic of a number of research reports. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Seaport Therapeutics in a report on Thursday. Wolfe Research initiated coverage on shares of Seaport Therapeutics in a report on Tuesday, July 7th. They issued a “hold” rating for the company. Citigroup assumed coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set a “buy” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 target price on the stock. Finally, UBS Group downgraded Seaport Therapeutics to a “sell” rating in a research note on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $38.40.

Seaport Therapeutics Price Performance

The business has a 50-day simple moving average of $21.04. The company has a market capitalization of $1.27 billion and a PE ratio of -1.95.

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

Insider Transactions at Seaport Therapeutics

In other news, Director Robert J. Hombach bought 13,000 shares of Seaport Therapeutics stock in a transaction on Monday, June 22nd. The stock was purchased at an average cost of $18.14 per share, with a total value of $235,820.00. Following the purchase, the director directly owned 13,000 shares of the company’s stock, valued at approximately $235,820. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Seaport Therapeutics

A number of hedge funds have recently made changes to their positions in SPTX. TRV GP VI LLC bought a new position in Seaport Therapeutics in the 2nd quarter worth approximately $44,769,742,000. Braidwell LP bought a new stake in Seaport Therapeutics during the 2nd quarter valued at $10,860,000. Finally, Alyeska Investment Group L.P. bought a new stake in Seaport Therapeutics during the 2nd quarter valued at $1,629,000.

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.