Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX – Get Free Report) shot up 4.6% on Thursday . The company traded as high as $23.07 and last traded at $22.74. Approximately 75,187 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 203,665 shares. The stock had previously closed at $21.75.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Seaport Research Partners set a $32.00 price target on shares of Seaport Therapeutics in a research report on Tuesday, August 25th. Wolfe Research assumed coverage on Seaport Therapeutics in a research note on Tuesday, July 7th. They issued a “hold” rating on the stock. Stifel Nicolaus began coverage on Seaport Therapeutics in a report on Tuesday, May 26th. They issued a “buy” rating and a $30.00 target price for the company. Zacks Research raised Seaport Therapeutics to a “hold” rating in a research note on Wednesday, May 27th. Finally, Leerink Partners assumed coverage on Seaport Therapeutics in a report on Tuesday, May 26th. They set an “outperform” rating and a $35.00 price target on the stock. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.33.
Get Our Latest Stock Report on Seaport Therapeutics
Seaport Therapeutics Stock Performance
Seaport Therapeutics (NASDAQ:SPTX – Get Free Report) 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). On average, research analysts predict that Seaport Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.
Insider Buying and Selling
In other Seaport Therapeutics news, Director Robert Hombach bought 13,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average price of $18.14 per share, with a total value of $235,820.00. Following the completion of the acquisition, the director directly owned 13,000 shares of the company’s stock, valued at $235,820. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the business. TRV GP VI LLC purchased a new position in shares of Seaport Therapeutics in the 2nd quarter valued at about $44,769,742. Alyeska Investment Group L.P. purchased a new stake in Seaport Therapeutics during the second quarter worth approximately $1,629,000. Braidwell LP acquired a new position in Seaport Therapeutics in the second quarter valued at approximately $10,860,000. HighTower Advisors LLC acquired a new position in Seaport Therapeutics in the second quarter valued at approximately $362,000. Finally, Citadel Advisors LLC acquired a new position in Seaport Therapeutics in the second quarter valued at approximately $4,152,000.
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.
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