Braidwell LP Buys New Position in Seaport Therapeutics, Inc. $SPTX

Braidwell LP bought a new stake in shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 500,000 shares of the company’s stock, valued at approximately $10,860,000.

Separately, Alyeska Investment Group L.P. acquired a new stake in shares of Seaport Therapeutics in the 2nd quarter worth approximately $1,629,000.

Seaport Therapeutics Trading Up 5.5%

SPTX stock opened at $24.91 on Thursday. The firm has a market capitalization of $1.33 billion and a price-to-earnings ratio of -2.06. The company’s 50 day simple moving average is $22.13. Seaport Therapeutics, Inc. has a 12 month low of $14.85 and a 12 month high of $28.38.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on SPTX. Weiss Ratings assumed coverage on shares of Seaport Therapeutics in a research note on Tuesday, August 11th. They set a “sell (d+)” rating on the stock. Citigroup began coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They issued a “buy” rating and a $35.00 target price for the company. Wolfe Research assumed coverage on Seaport Therapeutics in a research note on Tuesday, July 7th. They set a “hold” rating for the company. Leerink Partners started coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They set an “outperform” rating and a $35.00 price target on the stock. Finally, Wall Street Zen upgraded Seaport Therapeutics to a “hold” rating in a research report on Saturday, May 9th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Seaport Therapeutics currently has a consensus rating of “Hold” and an average target price of $37.33.

Insider Transactions at Seaport Therapeutics

In other news, Director Robert J. Hombach bought 13,000 shares of the stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the completion of the purchase, the director directly owned 13,000 shares of the company’s stock, valued at $235,820. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Seaport Therapeutics 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.