Seaport Therapeutics (NASDAQ:SPTX) Shares Down 7.3% – Should You Sell?

Seaport Therapeutics, Inc. (NASDAQ:SPTX)’s share price fell 7.3% during trading on Wednesday. The stock traded as low as $20.25 and last traded at $20.37. Approximately 64,534 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 227,733 shares. The stock had previously closed at $21.97.

Analyst Upgrades and Downgrades

SPTX has been the topic of several research analyst reports. Raymond James Financial assumed 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. UBS Group reissued a “buy” rating on shares of Seaport Therapeutics in a research report on Thursday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of Seaport Therapeutics from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, November 5th. JonesTrading assumed coverage on shares of Seaport Therapeutics in a report on Wednesday, August 26th. They issued a “buy” rating and a $32.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and set a $50.00 target price on shares of Seaport Therapeutics in a report on Thursday, October 8th. One research 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 given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.12.

Seaport Therapeutics Stock Down 4.7%

The stock has a market cap of $1.12 billion and a P/E ratio of -1.73. The stock’s fifty day moving average price is $20.60.

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

Insiders Place Their Bets

In related news, Director Denice Torres bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was purchased at an average price of $19.86 per share, for a total transaction of $99,300.00. Following the acquisition, the director owned 5,000 shares of the company’s stock, valued at approximately $99,300. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Trading of Seaport Therapeutics

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

About Seaport Therapeutics

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.