Seaport Therapeutics (NASDAQ:SPTX) Raised to Hold at Zacks Research

Seaport Therapeutics (NASDAQ:SPTX) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on SPTX. Stifel Nicolaus started coverage on shares of Seaport Therapeutics in a report on Tuesday. They issued a “buy” rating and a $30.00 price target for the company. Leerink Partners started coverage on shares of Seaport Therapeutics in a report on Tuesday. They issued an “outperform” rating and a $35.00 price target for the company. Wall Street Zen upgraded shares of Seaport Therapeutics to a “hold” rating in a report on Saturday, May 9th. Citigroup started coverage on shares of Seaport Therapeutics in a report on Tuesday. They issued a “buy” rating and a $35.00 price target for the company. Finally, Seaport Research Partners set a $42.00 price target on shares of Seaport Therapeutics in a report on Tuesday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.50.

Seaport Therapeutics Stock Up 4.2%

Shares of SPTX opened at $18.80 on Wednesday. Seaport Therapeutics has a 52-week low of $14.85 and a 52-week high of $23.00.

Insiders Place Their Bets

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