Seaport Therapeutics (NASDAQ:SPTX) Stock: Insider Denice Torres Purchases 5,000 Shares

Seaport Therapeutics, Inc. (NASDAQ:SPTX) Director Denice Torres acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were acquired at an average cost of $19.86 per share, for a total transaction of $99,300.00. Following the acquisition, the director directly owned 5,000 shares of the company’s stock, valued at $99,300. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Seaport Therapeutics Price Performance

NASDAQ:SPTX opened at $20.39 on Friday. Seaport Therapeutics, Inc. has a 1 year low of $14.85 and a 1 year high of $28.38. The business has a fifty day simple moving average of $20.77.

Seaport Therapeutics (NASDAQ:SPTX) last issued its earnings results on Monday, November 2nd. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.58) by $0.09. As a group, sell-side analysts anticipate that Seaport Therapeutics, Inc. will post -4.39 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. TRV GP VI LLC acquired a new stake in Seaport Therapeutics in the 2nd quarter valued at about $44,769,742. Citadel Advisors LLC acquired a new position in Seaport Therapeutics during the second quarter worth about $4,152,000. The Manufacturers Life Insurance Company acquired a new position in Seaport Therapeutics during the second quarter worth about $1,793,000. State Street Corp purchased a new stake in shares of Seaport Therapeutics in the second quarter valued at about $1,448,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Seaport Therapeutics in the second quarter valued at about $1,629,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SPTX. JPMorgan Chase & Co. upped their target price on shares of Seaport Therapeutics from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday. Raymond James Financial assumed coverage on shares of Seaport Therapeutics in a research report on Friday, September 25th. They set a “strong-buy” rating and a $46.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Seaport Therapeutics in a research note on Thursday, October 8th. Weiss Ratings lowered Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, September 25th. Finally, Canaccord Genuity Group started coverage on Seaport Therapeutics in a report on Wednesday, October 14th. They issued a “buy” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.12.

Seaport Therapeutics Company Profile

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company uses its Glyph platform, a technology designed to create prodrugs that may improve the delivery, tolerability, and effectiveness of certain therapies, including treatments intended to reach the brain.

Seaport’s pipeline includes investigational therapies for neurological and neuropsychiatric conditions. Its programs have included GTX-102, an oral investigational medicine being developed for Angelman syndrome, a rare genetic neurodevelopmental disorder, as well as additional candidates aimed at addressing unmet needs in CNS care.

The company was established with support from PureTech Health and is headquartered in Boston, Massachusetts.