Seaport Therapeutics (NASDAQ:SPTX) Shares Gap Down – Time to Sell?

Seaport Therapeutics, Inc. (NASDAQ:SPTX)’s stock price gapped down prior to trading on Friday. The stock had previously closed at $21.31, but opened at $20.10. Seaport Therapeutics shares last traded at $20.26, with a volume of 10,755 shares.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Seaport Research Partners set a $28.00 price target on shares of Seaport Therapeutics in a research note on Wednesday, October 14th. Raymond James Financial started coverage on Seaport Therapeutics in a research note on Friday, September 25th. They issued a “strong-buy” rating and a $46.00 price objective on the stock. JonesTrading initiated coverage on Seaport Therapeutics in a report on Wednesday, August 26th. They issued a “buy” rating and a $32.00 target price for the company. HC Wainwright restated a “buy” rating and set a $50.00 target price on shares of Seaport Therapeutics in a research report on Thursday, October 8th. Finally, Canaccord Genuity Group began coverage on Seaport Therapeutics in a research report on Wednesday, October 14th. They set a “buy” rating and a $28.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.12.

Seaport Therapeutics Trading Down 0.7%

The company has a fifty day moving average price of $20.37. The stock has a market capitalization of $1.07 billion and a price-to-earnings ratio of -1.58.

Seaport Therapeutics (NASDAQ:SPTX) last announced its earnings results on Monday, November 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.09. As a group, sell-side analysts forecast that Seaport Therapeutics, Inc. will post -4.30 EPS for the current fiscal year.

Insider Buying and Selling at Seaport Therapeutics

In other news, Director Denice Torres acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was bought at an average price of $19.86 per share, with a total value of $99,300.00. Following the completion of the acquisition, the director owned 5,000 shares in the company, valued at approximately $99,300. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On Seaport Therapeutics

Large investors have recently bought and sold shares of the business. HighTower Advisors LLC acquired a new stake in Seaport Therapeutics during the 2nd quarter valued at $362,000. Squarepoint Ops LLC acquired a new position in Seaport Therapeutics in the second quarter worth $538,000. State Street Corp bought a new stake in shares of Seaport Therapeutics during the second quarter worth $1,448,000. Alps Advisors Inc. grew its holdings in shares of Seaport Therapeutics by 30.5% during the third quarter. Alps Advisors Inc. now owns 70,921 shares of the company’s stock worth $1,430,000 after purchasing an additional 16,593 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Seaport Therapeutics during the second quarter worth $1,629,000.

Seaport Therapeutics Company Profile

Seaport Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric disorders. The company uses its Glyph platform to design oral prodrugs intended to improve the delivery of therapies that can be difficult to administer or absorb by mouth. Its pipeline includes SPT-300, an oral prodrug of allopregnanolone being developed for depression. Seaport was launched in 2024 and is headquartered in Boston, Massachusetts. Its leadership includes founder and Chief Executive Officer Daphne Zohar.