Seaport Therapeutics, Inc.’s (NASDAQ:SPTX) Quiet Period Will Expire on June 10th

Seaport Therapeutics’ (NASDAQ:SPTX) quiet period will end on Wednesday, June 10th. Seaport Therapeutics had issued 14,160,000 shares in its initial public offering on May 1st. The total size of the offering was $254,880,000 based on an initial share price of $18.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SPTX. Leerink Partners began coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set an “outperform” rating and a $35.00 price objective for the company. BNP Paribas Exane cut Seaport Therapeutics to a “market perform” rating in a research note on Tuesday, May 26th. Stifel Nicolaus assumed coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They set a “buy” rating and a $30.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They set an “overweight” rating and a $42.00 target price for the company. Finally, Zacks Research upgraded Seaport Therapeutics to a “hold” rating in a research note on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Seaport Therapeutics Price Performance

Shares of SPTX opened at $17.21 on Wednesday. Seaport Therapeutics has a 1-year low of $14.85 and a 1-year high of $23.00.

Insiders Place Their Bets

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