Seaport Therapeutics, Inc. (NASDAQ:SPTX – Get Free Report) shares gapped up before the market opened on Friday. The stock had previously closed at $21.12, but opened at $22.20. Seaport Therapeutics shares last traded at $21.91, with a volume of 9,683 shares.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on SPTX shares. Raymond James Financial initiated coverage on Seaport Therapeutics in a research note on Friday. They set a “strong-buy” rating and a $46.00 price target on the stock. Wolfe Research began coverage on Seaport Therapeutics in a report on Tuesday, July 7th. They set a “hold” rating for the company. UBS Group downgraded Seaport Therapeutics to a “sell” rating in a research report on Tuesday, June 9th. HC Wainwright reissued a “buy” rating and issued a $50.00 target price on shares of Seaport Therapeutics in a report on Thursday, September 10th. Finally, JonesTrading began coverage on Seaport Therapeutics in a research report on Wednesday, August 26th. They issued a “buy” rating and a $32.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $38.57.
Get Our Latest Stock Analysis on SPTX
Seaport Therapeutics Stock Up 2.2%
Seaport Therapeutics (NASDAQ:SPTX – Get Free Report) last posted its earnings results on Monday, August 3rd. The company reported ($1.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($1.07). Analysts anticipate that Seaport Therapeutics, Inc. will post -4.6 earnings per share for the current year.
Institutional Trading of Seaport Therapeutics
Several institutional investors and hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC purchased a new stake in Seaport Therapeutics during the 2nd quarter worth about $362,000. Squarepoint Ops LLC purchased a new position in Seaport Therapeutics in the 2nd quarter valued at about $538,000. State Street Corp purchased a new position in Seaport Therapeutics in the 2nd quarter valued at about $1,448,000. Alyeska Investment Group L.P. acquired a new stake in shares of Seaport Therapeutics during the 2nd quarter worth about $1,629,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Seaport Therapeutics during the 2nd quarter worth about $1,793,000.
Seaport Therapeutics Company Profile
Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company is working to advance treatments for conditions in areas such as psychiatry and neurology, with the goal of addressing significant limitations associated with existing therapies.
Seaport’s drug-development efforts are supported by its proprietary Glyph platform, which is designed to enable oral delivery of therapeutics that have historically required injection or infusion.
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