Seaport Therapeutics (NASDAQ:SPTX) Reaches New 52-Week High - Here's What Happened

Key Points

• Seaport Therapeutics shares reached a new 52-week high of $24.65, up from a previous close of $23.36, although trading volume was light at 845 shares.
• Analyst sentiment was mixed: five analysts rated the stock Buy, three rated it Hold and one rated it Sell. The consensus rating was Hold, with an average price target of $38.40.
• The company reported a quarterly loss of $1.78 per share, missing the $0.71 consensus estimate by $1.07. Separately, director Robert J. Hombach bought 13,000 shares, while TRV GP VI LLC disclosed a new 3.85% stake.

Seaport Therapeutics, Inc. (NASDAQ:SPTX - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The company traded as high as $24.65 and last traded at $24.65, with a volume of 845 shares trading hands. The stock had previously closed at $23.36.

Wall Street Analyst Weigh In

SPTX has been the subject of a number of analyst reports. Stifel Nicolaus assumed coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They set a "buy" rating and a $30.00 price objective for the company. BNP Paribas Exane lowered shares of Seaport Therapeutics to a "market perform" rating in a report on Tuesday, May 26th. Citigroup started coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set a "buy" rating and a $35.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $50.00 price target on shares of Seaport Therapeutics in a report on Tuesday, August 4th. Finally, Leerink Partners initiated coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They issued an "outperform" rating and a $35.00 price objective for the company. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $38.40.

Seaport Therapeutics Stock Performance

The firm has a 50-day moving average price of $19.95. The firm has a market capitalization of $1.25 billion and a P/E ratio of -2.27.

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

Insider Activity at Seaport Therapeutics

In related news, Director Robert J. Hombach acquired 13,000 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $18.14 per share, for a total transaction of $235,820.00. Following the completion of the acquisition, the director directly owned 13,000 shares in the company, valued at approximately $235,820. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Seaport Therapeutics

A hedge fund recently bought a new stake in Seaport Therapeutics stock. TRV GP VI LLC purchased a new stake in Seaport Therapeutics, Inc. (NASDAQ:SPTX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,061,222 shares of the company's stock, valued at approximately $44,769,742,000. Seaport Therapeutics accounts for 19.3% of TRV GP VI LLC's investment portfolio, making the stock its 2nd biggest position. TRV GP VI LLC owned 3.85% of Seaport Therapeutics at the end of the most recent reporting period.

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.

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