Seaport Therapeutics, Inc. (NASDAQ:SPTX) Receives Average Recommendation of “Hold” from Brokerages

Seaport Therapeutics, Inc. (NASDAQ:SPTX) has been given a consensus rating of “Hold” by the eleven research firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $37.3333.

Several brokerages have commented on SPTX. BNP Paribas Exane lowered shares of Seaport Therapeutics to a “market perform” rating in a research note on Tuesday, May 26th. Leerink Partners started coverage on Seaport Therapeutics in a report on Tuesday, May 26th. They issued an “outperform” rating and a $35.00 price objective for the company. JonesTrading initiated coverage on Seaport Therapeutics in a research report on Wednesday, August 26th. They issued a “buy” rating and a $32.00 target price on the stock. UBS Group downgraded Seaport Therapeutics to a “sell” rating in a research note on Tuesday, June 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $50.00 price target on shares of Seaport Therapeutics in a research note on Thursday, August 20th.

Seaport Therapeutics Stock Performance

Shares of SPTX stock opened at $21.75 on Thursday. The company has a 50 day moving average of $22.39. Seaport Therapeutics has a 52 week low of $14.85 and a 52 week high of $28.38. The firm has a market capitalization of $1.16 billion and a P/E ratio of -1.79.

Seaport Therapeutics (NASDAQ:SPTX) last issued 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). As a group, analysts anticipate that Seaport Therapeutics will post -4.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Hombach bought 13,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the transaction, the director directly owned 13,000 shares of the company’s stock, valued at approximately $235,820. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On Seaport Therapeutics

Several large investors have recently bought and sold shares of the stock. TRV GP VI LLC bought a new position in shares of Seaport Therapeutics in the second quarter valued at approximately $44,769,742. Citadel Advisors LLC acquired a new position in shares of Seaport Therapeutics during the second quarter valued at approximately $4,152,000. Alyeska Investment Group L.P. bought a new stake in Seaport Therapeutics during the second quarter worth approximately $1,629,000. Braidwell LP bought a new stake in Seaport Therapeutics during the second quarter worth approximately $10,860,000. Finally, Squarepoint Ops LLC acquired a new stake in Seaport Therapeutics in the second quarter worth approximately $538,000.

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.