Seaport Therapeutics (NASDAQ:SPTX) Trading Down 5.2% – Here’s What Happened

Seaport Therapeutics, Inc. (NASDAQ:SPTX)’s share price fell 5.2% during mid-day trading on Thursday . The stock traded as low as $26.32 and last traded at $26.39. Approximately 72,304 shares traded hands during trading, a decline of 66% from the average daily volume of 210,000 shares. The stock had previously closed at $27.84.

Analysts Set New Price Targets

Several research firms have recently commented on SPTX. Zacks Research raised shares of Seaport Therapeutics to a “hold” rating in a research report on Wednesday, May 27th. Seaport Research Partners set a $32.00 price objective on Seaport Therapeutics in a research report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $50.00 target price on shares of Seaport Therapeutics in a research note on Thursday, August 20th. JonesTrading assumed coverage on shares of Seaport Therapeutics in a report on Wednesday. They issued a “buy” rating and a $32.00 price objective on the stock. Finally, Wall Street Zen raised Seaport Therapeutics to a “hold” rating in a research report on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Seaport Therapeutics currently has an average rating of “Hold” and an average price target of $37.33.

Seaport Therapeutics Stock Down 8.4%

The company has a 50 day moving average of $21.81. The stock has a market cap of $1.29 billion and a PE ratio of -1.98.

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

Insider Transactions at Seaport Therapeutics

In other news, Director Robert J. Hombach bought 13,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the completion of the transaction, the director owned 13,000 shares of the company’s stock, valued at approximately $235,820. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

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

Seaport Therapeutics Company Profile

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.