Seaport Therapeutics, Inc. (NASDAQ:SPTX) Receives Consensus Rating of “Hold” from Analysts

Seaport Therapeutics, Inc. (NASDAQ:SPTX) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $35.50.

Several equities research analysts have commented on SPTX shares. Leerink Partners initiated coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They issued an “outperform” rating and a $35.00 price target for the company. Wolfe Research started coverage on Seaport Therapeutics in a research report on Tuesday, July 7th. They issued a “hold” rating for the company. Wall Street Zen upgraded shares of Seaport Therapeutics to a “hold” rating in a report on Saturday, May 9th. Citigroup initiated coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Seaport Research Partners set a $42.00 target price on shares of Seaport Therapeutics in a research report on Tuesday, May 26th.

Insider Buying and Selling

In other Seaport Therapeutics news, Director Robert J. Hombach purchased 13,000 shares of the stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $18.14 per share, with a total value of $235,820.00. Following the completion of the transaction, the director owned 13,000 shares in the company, valued at $235,820. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Arch Venture Partners Xii, Llc bought 1,100,000 shares of the stock in a transaction on Monday, May 4th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the acquisition, 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 SEC filing for this purchase provides additional information.

Seaport Therapeutics Trading Up 1.7%

Shares of NASDAQ SPTX opened at $20.44 on Wednesday. Seaport Therapeutics has a fifty-two week low of $14.85 and a fifty-two week high of $23.00. The company has a market capitalization of $1.09 billion and a PE ratio of -1.98. The company’s 50-day moving average is $18.16.

Seaport Therapeutics (NASDAQ:SPTX) last posted its quarterly earnings data on Monday, June 8th. The company reported ($10.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($10.64) by $0.30.