Seaport Therapeutics, Inc. $SPTX Shares Newly Acquired by State Street Corp

Key Points

• State Street acquired 66,650 shares of Seaport Therapeutics in the second quarter, worth approximately $1.45 million and representing about 0.12% of the company. Several other institutional investors also initiated positions.
• Seaport Therapeutics reported a quarterly loss of $1.78 per share, missing the consensus estimate of a $0.71 loss. Analysts expect a full-year loss of approximately $4.60 per share.
• Analyst sentiment is mixed but leans positive: the stock has a consensus “Moderate Buy” rating and a $38.57 price target, compared with its recent price of $21.52.

State Street Corp acquired a new stake in Seaport Therapeutics, Inc. (NASDAQ:SPTX - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 66,650 shares of the company's stock, valued at approximately $1,448,000. State Street Corp owned about 0.12% of Seaport Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC acquired a new position in Seaport Therapeutics in the 2nd quarter valued at $362,000. Squarepoint Ops LLC purchased a new position in Seaport Therapeutics during the second quarter worth about $538,000. Alyeska Investment Group L.P. acquired a new stake in Seaport Therapeutics in the 2nd quarter worth about $1,629,000. The Manufacturers Life Insurance Company acquired a new stake in Seaport Therapeutics in the 2nd quarter worth about $1,793,000. Finally, Citadel Advisors LLC purchased a new stake in Seaport Therapeutics in the 2nd quarter valued at about $4,152,000.

Seaport Therapeutics Price Performance

Shares of NASDAQ SPTX opened at $21.52 on Friday. The company's 50 day moving average price is $22.87. Seaport Therapeutics, Inc. has a 52-week low of $14.85 and a 52-week high of $28.38. The firm has a market capitalization of $1.15 billion and a PE ratio of -1.78.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) last issued 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). As a group, research analysts anticipate that Seaport Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SPTX. Weiss Ratings assumed coverage on shares of Seaport Therapeutics in a report on Tuesday, August 11th. They set a "sell (d+)" rating on the stock. Wolfe Research assumed coverage on shares of Seaport Therapeutics in a research report on Tuesday, July 7th. They set a "hold" rating for the company. UBS Group lowered shares of Seaport Therapeutics to a "sell" rating in a research report on Tuesday, June 9th. JonesTrading assumed coverage on shares of Seaport Therapeutics in a report on Wednesday, August 26th. They set a "buy" rating and a $32.00 target price on the stock. Finally, Raymond James Financial assumed coverage on shares of Seaport Therapeutics in a research report on Friday. They set a "strong-buy" rating and a $46.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.57.

About Seaport Therapeutics

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company is working to advance treatments for conditions in areas such as psychiatry and neurology, with the goal of addressing significant limitations associated with existing therapies.

Seaport's drug-development efforts are supported by its proprietary Glyph platform, which is designed to enable oral delivery of therapeutics that have historically required injection or infusion.

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