Seaport Therapeutics (NASDAQ:SPTX) Stock Price Up 6.4% – Time to Buy?

Seaport Therapeutics, Inc. (NASDAQ:SPTX)’s share price shot up 6.4% during mid-day trading on Wednesday . The stock traded as high as $26.48 and last traded at $26.41. 33,959 shares were traded during trading, a decline of 84% from the average daily volume of 210,423 shares. The stock had previously closed at $24.83.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SPTX shares. Weiss Ratings started coverage on shares of Seaport Therapeutics in a research report on Tuesday, August 11th. They issued a “sell (d+)” rating on the stock. Seaport Research Partners set a $32.00 target price on shares of Seaport Therapeutics in a research note on Tuesday. HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Seaport Therapeutics in a research note on Thursday, August 20th. Wolfe Research began coverage on shares of Seaport Therapeutics in a report on Tuesday, July 7th. They issued a “hold” rating on the stock. Finally, Citigroup initiated coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set a “buy” rating and a $35.00 price target on the stock. Six equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $37.33.

Seaport Therapeutics Price Performance

The firm has a market cap of $1.43 billion and a price-to-earnings ratio of -2.20. The business has a fifty day moving average of $21.31.

Seaport Therapeutics (NASDAQ:SPTX) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($1.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($1.07). As a group, analysts forecast that Seaport Therapeutics, Inc. will post -4.6 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert J. Hombach bought 13,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $18.14 per share, with a total value of $235,820.00. Following the completion of the purchase, the director directly owned 13,000 shares in the company, valued at $235,820. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Seaport Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SPTX. HighTower Advisors LLC bought a new position in shares of Seaport Therapeutics during the 2nd quarter worth about $362,000. Alyeska Investment Group L.P. acquired a new position in Seaport Therapeutics during the 2nd quarter worth approximately $1,629,000. Braidwell LP bought a new position in Seaport Therapeutics in the second quarter worth approximately $10,860,000. Finally, TRV GP VI LLC bought a new position in Seaport Therapeutics in the second quarter worth approximately $44,769,742,000.

Seaport Therapeutics Company Profile

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.