Seaport Therapeutics, Inc. (NASDAQ:SPTX) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts rate Seaport Therapeutics “Hold” on average: Six analysts recommend buying the stock, three rate it a hold and two recommend selling it. The average 12-month price target is $37.33, above the reported opening price of $24.91.
• The company missed quarterly earnings expectations: Seaport reported a loss of $1.78 per share versus the consensus estimate of a $0.71 loss. Analysts expect a full-year loss of approximately $4.60 per share.
• Institutional interest has increased: Several hedge funds initiated positions during the second quarter, including TRV GP VI, which acquired a stake valued at approximately $44.8 million; a company director also purchased 13,000 shares.

Seaport Therapeutics, Inc. (NASDAQ:SPTX - Get Free Report) has been assigned an average rating of "Hold" from the eleven research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $37.3333.

Several equities research analysts recently weighed in on the stock. Leerink Partners initiated coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They issued an "outperform" rating and a $35.00 price objective for the company. Citigroup started coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They issued a "buy" rating and a $35.00 price objective on the stock. Weiss Ratings assumed coverage on Seaport Therapeutics in a research report on Tuesday, August 11th. They set a "sell (d+)" rating on the stock. JPMorgan Chase & Co. started coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They set an "overweight" rating and a $42.00 price target on the stock. Finally, BNP Paribas Exane lowered Seaport Therapeutics to a "market perform" rating in a research report on Tuesday, May 26th.

Seaport Therapeutics Price Performance

SPTX stock opened at $24.91 on Thursday. The company has a fifty day moving average of $22.13. The company has a market capitalization of $1.33 billion and a PE ratio of -2.06. Seaport Therapeutics has a 1 year low of $14.85 and a 1 year high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) last posted its 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). Analysts predict that Seaport Therapeutics will post -4.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert J. Hombach bought 13,000 shares of the company's stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $18.14 per share, with a total value of $235,820.00. Following the transaction, the director directly owned 13,000 shares in the company, valued at approximately $235,820. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new position in shares of Seaport Therapeutics during the 2nd quarter valued at about $4,152,000. HighTower Advisors LLC acquired a new stake in shares of Seaport Therapeutics during the 2nd quarter worth approximately $362,000. Braidwell LP bought a new stake in shares of Seaport Therapeutics during the second quarter valued at approximately $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, TRV GP VI LLC acquired a new position in shares of Seaport Therapeutics in the 2nd quarter valued at $44,769,742.

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.

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