Seaport Therapeutics (NASDAQ:SPTX) Stock Price Down 5.2% - Here's Why

Key Points

• Seaport Therapeutics shares fell 5.2% to about $26.39 in midday trading, with volume down 66% from its average.
• Analyst sentiment is mixed: six analysts rate the stock a Buy, three a Hold, and two a Sell, producing a consensus Hold rating and an average price target of $37.33.
• The company reported a quarterly loss of $1.78 per share, missing estimates by $1.07, while analysts expect a full-year loss of approximately $4.60 per share.

Seaport Therapeutics, Inc. (NASDAQ:SPTX - Get Free Report)'s share price was down 5.2% during mid-day trading on Thursday . The company traded as low as $26.32 and last traded at $26.39. 72,304 shares were traded during trading, a decline of 66% from the average daily volume of 210,000 shares. The stock had previously closed at $27.84.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $50.00 target price on shares of Seaport Therapeutics in a research report on Thursday, August 20th. UBS Group lowered shares of Seaport Therapeutics to a "sell" rating in a report on Tuesday, June 9th. Weiss Ratings started coverage on Seaport Therapeutics in a research report on Tuesday, August 11th. They set a "sell (d+)" rating on the stock. BNP Paribas Exane downgraded Seaport Therapeutics to a "market perform" rating in a report on Tuesday, May 26th. Finally, Wall Street Zen raised Seaport Therapeutics to a "hold" rating in a research report on Saturday, May 9th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Seaport Therapeutics has a consensus rating of "Hold" and an average price target of $37.33.

Seaport Therapeutics Price Performance

The firm has a 50 day moving average price of $21.53. The firm has a market cap of $1.41 billion and a P/E ratio of -2.18.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) last posted its quarterly earnings data 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, analysts anticipate that Seaport Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.

Insider Activity at Seaport Therapeutics

In related news, Director Robert J. Hombach purchased 13,000 shares of the company's stock in a transaction dated Monday, June 22nd. The shares were purchased 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 $235,820. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC bought a new stake in Seaport Therapeutics in the second quarter worth $362,000. Braidwell LP purchased a new stake in shares of Seaport Therapeutics in the second quarter worth $10,860,000. Alyeska Investment Group L.P. bought a new position in shares of Seaport Therapeutics during the second quarter valued at $1,629,000. Finally, TRV GP VI LLC bought a new position in shares of Seaport Therapeutics during the second quarter valued at $44,769,742,000.

Seaport Therapeutics Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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