Seaport Therapeutics, Inc. (NASDAQ:SPTX) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) have been assigned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $35.50.

A number of research firms have issued reports on SPTX. BNP Paribas Exane downgraded shares of Seaport Therapeutics to a “market perform” rating in a report on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of Seaport Therapeutics in a research report on Tuesday. They issued an “overweight” rating and a $42.00 price target for the company. Stifel Nicolaus set a $30.00 price target on Seaport Therapeutics and gave the stock a “buy” rating in a research report on Tuesday. Citigroup assumed coverage on Seaport Therapeutics in a report on Tuesday. They issued a “buy” rating and a $35.00 price objective for the company. Finally, Leerink Partners assumed coverage on Seaport Therapeutics in a report on Tuesday. They set an “outperform” rating and a $35.00 target price on the stock.

Insider Buying and Selling

In other news, major shareholder Arch Venture Partners Xii, Llc bought 1,100,000 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the transaction, the insider owned 6,294,951 shares of the company’s stock, valued at $113,309,118. This represents a 21.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Seaport Therapeutics Price Performance

Shares of SPTX traded up $0.52 during midday trading on Tuesday, reaching $18.02. 26,436 shares of the stock were exchanged, compared to its average volume of 393,304. Seaport Therapeutics has a twelve month low of $14.85 and a twelve month high of $23.00.