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

Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) have been given an average rating of “Hold” by the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $35.50.

SPTX has been the subject of several research analyst reports. UBS Group lowered shares of Seaport Therapeutics to a “sell” rating in a research note on Tuesday, June 9th. JPMorgan Chase & Co. initiated coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They set an “overweight” rating and a $42.00 price target for the company. BNP Paribas Exane lowered shares of Seaport Therapeutics to a “market perform” rating in a research note on Tuesday, May 26th. Wall Street Zen raised shares of Seaport Therapeutics to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research raised shares of Seaport Therapeutics to a “hold” rating in a report on Wednesday, May 27th.

Seaport Therapeutics Stock Performance

NASDAQ:SPTX opened at $18.17 on Friday. Seaport Therapeutics has a 52 week low of $14.85 and a 52 week high of $23.00.

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

Insider Buying and Selling

In other Seaport Therapeutics news, major shareholder Arch Venture Partners Xii, Llc acquired 1,100,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was bought at an average cost of $18.00 per share, with a total value of $19,800,000.00. Following the acquisition, the insider owned 6,294,951 shares in the company, valued at approximately $113,309,118. This represents a 21.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.