Braidwell LP Takes $10.86 Million Position in Seaport Therapeutics, Inc. $SPTX

Key Points

• Braidwell LP acquired 500,000 shares of Seaport Therapeutics valued at approximately $10.86 million, representing about 0.93% of the company. Alyeska Investment Group also opened a new position worth roughly $1.63 million.
• Analyst sentiment is mixed: six analysts rate SPTX a Buy, three rate it Hold and two rate it Sell. The consensus rating is Hold, with an average price target of $37.33.
• SPTX recently traded at $24.91, up 5.5%, but Seaport reported a quarterly loss of $1.78 per share—well below the $0.71 loss analysts expected—and analysts forecast a full-year loss of $4.60 per share.

Braidwell LP acquired a new stake in shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 500,000 shares of the company's stock, valued at approximately $10,860,000. Braidwell LP owned about 0.93% of Seaport Therapeutics as of its most recent SEC filing.

Separately, Alyeska Investment Group L.P. bought a new position in Seaport Therapeutics in the second quarter worth about $1,629,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SPTX shares. JonesTrading started coverage on Seaport Therapeutics in a report on Wednesday, August 26th. They issued a "buy" rating and a $32.00 price target on the stock. UBS Group downgraded Seaport Therapeutics to a "sell" rating in a research note on Tuesday, June 9th. JPMorgan Chase & Co. initiated coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They issued an "overweight" rating and a $42.00 target price on the stock. Weiss Ratings started coverage on Seaport Therapeutics in a research note on Tuesday, August 11th. They issued a "sell (d+)" rating on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $50.00 price target on shares of Seaport Therapeutics in a report on Thursday, August 20th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $37.33.

Seaport Therapeutics Trading Up 5.5%

NASDAQ SPTX opened at $24.91 on Thursday. The stock has a 50-day moving average price of $22.13. Seaport Therapeutics, Inc. has a 52 week low of $14.85 and a 52 week high of $28.38. The company has a market cap of $1.33 billion and a PE ratio of -2.06.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) last released 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, equities research analysts anticipate that Seaport Therapeutics, Inc. will post -4.6 earnings per share for the current year.

Insider Buying and Selling

In other Seaport Therapeutics news, Director Robert J. Hombach bought 13,000 shares of the business's stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $18.14 per share, with a total value of $235,820.00. Following the purchase, the director directly owned 13,000 shares of the company's stock, valued at approximately $235,820. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Seaport Therapeutics Profile

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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