Short Interest in Seaport Therapeutics, Inc. (NASDAQ:SPTX) Expands By ∞

Seaport Therapeutics, Inc. (NASDAQ:SPTX) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 1,459,469 shares, a growth of ∞ from the April 30th total of 0 shares. Approximately 2.8% of the company’s stock are short sold. Based on an average daily trading volume, of 850,464 shares, the days-to-cover ratio is presently 1.7 days.

Seaport Therapeutics Price Performance

Shares of Seaport Therapeutics stock traded down $0.11 on Monday, reaching $18.08. 10,183 shares of the company traded hands, compared to its average volume of 350,881. Seaport Therapeutics has a 52 week low of $14.85 and a 52 week high of $23.00.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Seaport Research Partners set a $42.00 target price on shares of Seaport Therapeutics in a report on Tuesday, May 26th. Leerink Partners started coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They issued an “outperform” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 price objective for the company. Wall Street Zen raised Seaport Therapeutics to a “hold” rating in a research report on Saturday, May 9th. Finally, BNP Paribas Exane cut Seaport Therapeutics to a “market perform” rating in a research report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Seaport Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $35.50.

Insiders Place Their Bets

In other news, major shareholder Arch Venture Partners Xii, Llc acquired 1,100,000 shares of the business’s stock in a transaction on Monday, May 4th. The shares were purchased at an average cost of $18.00 per share, with a total value of $19,800,000.00. Following the acquisition, the insider directly owned 6,294,951 shares of the company’s stock, valued at $113,309,118. The trade was a 21.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.