Seaport Therapeutics (NASDAQ:SPTX) Shares Up 6.4% – Time to Buy?

Seaport Therapeutics, Inc. (NASDAQ:SPTX)’s stock price traded up 6.4% on Wednesday . The company traded as high as $26.48 and last traded at $26.41. Approximately 33,959 shares changed hands during trading, a decline of 84% from the average daily volume of 210,423 shares. The stock had previously closed at $24.83.

Analyst Ratings Changes

SPTX has been the topic of a number of recent research reports. Wall Street Zen upgraded Seaport Therapeutics to a “hold” rating in a report on Saturday, May 9th. Leerink Partners began coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They set an “outperform” rating and a $35.00 price target for the company. Seaport Research Partners set a $32.00 price objective on shares of Seaport Therapeutics in a report on Tuesday. BNP Paribas Exane lowered shares of Seaport Therapeutics to a “market perform” rating in a research note on Tuesday, May 26th. Finally, JonesTrading started coverage on shares of Seaport Therapeutics in a report on Wednesday. They set a “buy” rating and a $32.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.33.

Seaport Therapeutics Stock Up 7.4%

The business has a fifty day moving average of $21.31. The company has a market capitalization of $1.43 billion and a PE ratio of -2.20.

Seaport Therapeutics (NASDAQ:SPTX) last issued its quarterly earnings data on Monday, August 3rd. The company reported ($1.78) EPS for the quarter, missing the consensus estimate of ($0.71) by ($1.07). On average, analysts forecast that Seaport Therapeutics, Inc. will post -4.6 earnings per share for the current year.

Insider Transactions at Seaport Therapeutics

In related news, Director Robert J. Hombach purchased 13,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the completion of the acquisition, the director owned 13,000 shares of the company’s stock, valued at $235,820. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Seaport Therapeutics

A number of hedge funds have recently bought and sold shares of the company. TRV GP VI LLC bought a new stake in shares of Seaport Therapeutics in the 2nd quarter worth $44,769,742,000. HighTower Advisors LLC purchased a new stake in shares of Seaport Therapeutics in the second quarter valued at about $362,000. Braidwell LP bought a new position in shares of Seaport Therapeutics during the second quarter valued at about $10,860,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Seaport Therapeutics during the second quarter valued at about $1,629,000.

About Seaport Therapeutics

Seaport Therapeutics Inc is a clinical-stage therapeutics company focused on inventing and developing new medicines for patients with depression, anxiety and other debilitating neuropsychiatric disorders. Seaport Therapeutics Inc is based in BOSTON.