Seaport Therapeutics (NASDAQ:SPTX) Stock Price Up 4.6% - Should You Buy?

Key Points

• Seaport Therapeutics shares rose 4.6% to $22.74, despite trading volume falling 63% below the average daily level. The company’s market capitalization is approximately $1.24 billion.
• Analyst sentiment is mixed: six analysts rate the stock a Buy, three a Hold, and two a Sell, resulting in a consensus Hold rating. The average price target is $37.33, notably above the current share price.
• The company reported a quarterly loss of $1.78 per share, missing the $0.71 consensus estimate, and analysts expect a full-year loss of approximately $4.60 per share. A director purchased 13,000 shares, while several institutional investors also established new positions.

Seaport Therapeutics, Inc. (NASDAQ:SPTX - Get Free Report) rose 4.6% during trading on Thursday . The stock traded as high as $23.07 and last traded at $22.74. Approximately 75,187 shares were traded during trading, a decline of 63% from the average daily volume of 203,665 shares. The stock had previously closed at $21.75.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SPTX shares. UBS Group downgraded shares of Seaport Therapeutics to a "sell" rating in a research note on Tuesday, June 9th. Stifel Nicolaus initiated coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They set a "buy" rating and a $30.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Seaport Therapeutics in a report on Tuesday, May 26th. They set an "overweight" rating and a $42.00 price objective for the company. Leerink Partners initiated coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They issued an "outperform" rating and a $35.00 price objective for the company. Finally, Wolfe Research started coverage on Seaport Therapeutics in a research note on Tuesday, July 7th. They set a "hold" rating on the stock. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $37.33.

Seaport Therapeutics Price Performance

The company has a market cap of $1.24 billion and a P/E ratio of -1.91. The stock has a 50 day moving average of $22.39.

Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported ($1.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.71) by ($1.07). Equities analysts predict that Seaport Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert Hombach bought 13,000 shares of the business's stock in a transaction that occurred on 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 approximately $235,820. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Institutional Trading of Seaport Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. TRV GP VI LLC acquired a new position in shares of Seaport Therapeutics in the second quarter valued at about $44,769,742. Alyeska Investment Group L.P. acquired a new stake in shares of Seaport Therapeutics during the second quarter worth about $1,629,000. Braidwell LP acquired a new stake in shares of Seaport Therapeutics during the second quarter worth about $10,860,000. HighTower Advisors LLC purchased a new stake in Seaport Therapeutics in the second quarter valued at approximately $362,000. Finally, Citadel Advisors LLC purchased a new stake in Seaport Therapeutics in the second quarter valued at approximately $4,152,000.

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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