Seaport Therapeutics (NASDAQ:SPTX) Director Denice Torres Buys 5,000 Shares of Stock

Seaport Therapeutics, Inc. (NASDAQ:SPTX) Director Denice Torres acquired 5,000 shares of Seaport Therapeutics stock in a transaction on Tuesday, November 3rd. The shares were bought at an average cost of $19.86 per share, with a total value of $99,300.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $99,300. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Seaport Therapeutics Stock Performance

Shares of SPTX opened at $20.96 on Thursday. The company has a 50-day moving average of $20.92. Seaport Therapeutics, Inc. has a fifty-two week low of $14.85 and a fifty-two week high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX) last announced its quarterly earnings results on Monday, November 2nd. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.09. Equities research analysts anticipate that Seaport Therapeutics, Inc. will post -4.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SPTX. TRV GP VI LLC acquired a new stake in shares of Seaport Therapeutics in the second quarter valued at approximately $44,769,742. Braidwell LP bought a new stake in shares of Seaport Therapeutics in the second quarter valued at approximately $10,860,000. Citadel Advisors LLC acquired a new stake in Seaport Therapeutics during the second quarter worth approximately $4,152,000. The Manufacturers Life Insurance Company acquired a new stake in Seaport Therapeutics during the second quarter worth approximately $1,793,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Seaport Therapeutics during the second quarter worth approximately $1,629,000.

Wall Street Analyst Weigh In

SPTX has been the topic of several research reports. Seaport Research Partners set a $28.00 target price on Seaport Therapeutics in a research report on Wednesday, October 14th. Raymond James Financial began coverage on Seaport Therapeutics in a report on Friday, September 25th. They set a “strong-buy” rating and a $46.00 price target for the company. Weiss Ratings downgraded Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. UBS Group reaffirmed a “buy” rating on shares of Seaport Therapeutics in a report on Thursday, October 8th. Finally, JonesTrading assumed coverage on Seaport Therapeutics in a research report on Wednesday, August 26th. They set a “buy” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Seaport Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $37.25.

About Seaport Therapeutics

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company uses its Glyph platform, a technology designed to create prodrugs that may improve the delivery, tolerability, and effectiveness of certain therapies, including treatments intended to reach the brain.

Seaport’s pipeline includes investigational therapies for neurological and neuropsychiatric conditions. Its programs have included GTX-102, an oral investigational medicine being developed for Angelman syndrome, a rare genetic neurodevelopmental disorder, as well as additional candidates aimed at addressing unmet needs in CNS care.

The company was established with support from PureTech Health and is headquartered in Boston, Massachusetts.