Seaport Therapeutics, Inc. (NASDAQ:SPTX – Get Free Report) traded up 3.6% during mid-day trading on Wednesday. The company traded as high as $16.79 and last traded at $16.66. Approximately 42,924 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 222,797 shares. The stock had previously closed at $16.08.
Analyst Ratings Changes
SPTX has been the topic of several recent research reports. Raymond James Financial assumed coverage on Seaport Therapeutics in a report on Friday, September 25th. They set a “strong-buy” rating and a $46.00 price objective on the stock. Weiss Ratings cut shares of Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Canaccord Genuity Group started coverage on shares of Seaport Therapeutics in a research note on Wednesday. They issued a “buy” rating and a $28.00 target price on the stock. Wolfe Research initiated coverage on shares of Seaport Therapeutics in a research report on Tuesday, July 7th. They set a “hold” rating for the company. Finally, Seaport Research Partners set a $28.00 target price on shares of Seaport Therapeutics in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Seaport Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $37.25.
Get Our Latest Stock Analysis on SPTX
Seaport Therapeutics Stock Performance
Seaport Therapeutics (NASDAQ:SPTX – Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported ($1.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($1.07). As a group, analysts forecast that Seaport Therapeutics, Inc. will post -4.52 earnings per share for the current year.
Hedge Funds Weigh In On Seaport Therapeutics
Several institutional investors and hedge funds have recently added to or reduced their stakes in SPTX. TRV GP VI LLC acquired a new stake in shares of Seaport Therapeutics in the 2nd quarter valued at approximately $44,769,742. Braidwell LP acquired a new position in shares of Seaport Therapeutics in the second quarter worth $10,860,000. Citadel Advisors LLC purchased a new stake in shares of Seaport Therapeutics in the second quarter valued at $4,152,000. The Manufacturers Life Insurance Company purchased a new stake in Seaport Therapeutics during the 2nd quarter worth about $1,793,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Seaport Therapeutics during the 2nd quarter worth about $1,629,000.
About Seaport Therapeutics
Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for neuropsychiatric and neurological disorders. The company’s research emphasizes therapies that modulate the brain’s GABAergic system, which plays an important role in mood, anxiety, and other central nervous system functions.
Seaport’s drug-development programs are based on its Glyph platform, a technology designed to improve the delivery of small-molecule medicines to the brain and enable oral versions of therapies that may otherwise require intravenous or other forms of administration.
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