Seaport Therapeutics (NASDAQ:SPTX) Research Coverage Started at JonesTrading

JonesTrading began coverage on shares of Seaport Therapeutics (NASDAQ:SPTX) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $32.00 price objective on the stock.

Several other equities analysts have also recently weighed in on SPTX. Citigroup initiated coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They issued a “buy” rating and a $35.00 target price for the company. JPMorgan Chase & Co. started coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set an “overweight” rating and a $42.00 price target on the stock. Wolfe Research assumed coverage on shares of Seaport Therapeutics in a research note on Tuesday, July 7th. They issued a “hold” rating for the company. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Seaport Therapeutics in a research report on Thursday, August 20th. Finally, Zacks Research raised shares of Seaport Therapeutics to a “hold” rating in a research report on Wednesday, May 27th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.33.

Seaport Therapeutics Stock Down 8.4%

Shares of NASDAQ SPTX opened at $24.04 on Wednesday. The company’s 50 day moving average is $21.81. Seaport Therapeutics has a 52 week low of $14.85 and a 52 week high of $28.38. The firm has a market capitalization of $1.29 billion and a PE ratio of -1.98.

Seaport Therapeutics (NASDAQ:SPTX) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($1.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($1.07). As a group, sell-side analysts forecast that Seaport Therapeutics will post -4.6 earnings per share for the current fiscal year.

Insider Activity

In other Seaport Therapeutics news, Director Robert J. Hombach bought 13,000 shares of Seaport Therapeutics stock in a transaction dated Monday, June 22nd. The stock was bought at an average cost of $18.14 per share, for a total transaction of $235,820.00. Following the purchase, the director owned 13,000 shares of the company’s stock, valued at $235,820. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On Seaport Therapeutics

A number of large investors have recently added to or reduced their stakes in SPTX. TRV GP VI LLC acquired a new stake in Seaport Therapeutics during the 2nd quarter valued at $44,769,742. Braidwell LP acquired a new position in shares of Seaport Therapeutics in the second quarter valued at $10,860,000. Alyeska Investment Group L.P. acquired a new position in shares of Seaport Therapeutics in the second quarter valued at $1,629,000. Finally, HighTower Advisors LLC bought a new position in shares of Seaport Therapeutics in the second quarter valued at about $362,000.

About Seaport Therapeutics

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.