Seaport Therapeutics (NASDAQ:SPTX) Reaches New 52-Week High – Here’s What Happened

Seaport Therapeutics, Inc. (NASDAQ:SPTX)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $24.65 and last traded at $24.65, with a volume of 845 shares traded. The stock had previously closed at $23.36.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Seaport Research Partners set a $50.00 target price on Seaport Therapeutics in a research note on Wednesday, July 15th. UBS Group downgraded shares of Seaport Therapeutics to a “sell” rating in a report on Tuesday, June 9th. Zacks Research raised shares of Seaport Therapeutics to a “hold” rating in a research report on Wednesday, May 27th. Wolfe Research began coverage on shares of Seaport Therapeutics in a research report on Tuesday, July 7th. They issued a “hold” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Seaport Therapeutics in a report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Seaport Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $38.40.

Seaport Therapeutics Trading Up 0.3%

The company has a market capitalization of $1.25 billion and a price-to-earnings ratio of -2.27. The firm’s 50-day moving average price is $19.95.

Seaport Therapeutics (NASDAQ:SPTX) last issued its quarterly earnings results 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 EPS for the current fiscal year.

Insider Activity at Seaport Therapeutics

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

Institutional Trading of Seaport Therapeutics

A hedge fund recently bought a new position in Seaport Therapeutics stock. TRV GP VI LLC purchased a new stake in Seaport Therapeutics, Inc. (NASDAQ:SPTX) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,061,222 shares of the company’s stock, valued at approximately $44,769,742,000. Seaport Therapeutics comprises approximately 19.3% of TRV GP VI LLC’s portfolio, making the stock its 2nd biggest holding. TRV GP VI LLC owned approximately 3.85% of Seaport Therapeutics at the end of the most recent reporting period.

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.