Seaport Therapeutics (NASDAQ:SPTX) Sets New 1-Year High – Here’s What Happened

Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $23.34 and last traded at $23.09, with a volume of 106561 shares. The stock had previously closed at $22.34.

Wall Street Analyst Weigh In

SPTX has been the subject of a number of research analyst reports. UBS Group cut Seaport Therapeutics to a “sell” rating in a report on Tuesday, June 9th. BNP Paribas Exane lowered Seaport Therapeutics to a “market perform” rating in a research note on Tuesday, May 26th. Citigroup assumed coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They set a “buy” rating and a $35.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Seaport Therapeutics in a research report on Tuesday. Finally, Stifel Nicolaus assumed coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They issued a “buy” rating and a $30.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Seaport Therapeutics presently has a consensus rating of “Hold” and an average target price of $38.40.

Seaport Therapeutics Price Performance

The company’s 50-day moving average is $19.60.

Seaport Therapeutics (NASDAQ:SPTX) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($1.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($1.07). Analysts forecast that Seaport Therapeutics, Inc. will post -4.33 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert J. Hombach purchased 13,000 shares of Seaport Therapeutics stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the acquisition, the director directly owned 13,000 shares in the company, valued at approximately $235,820. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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.