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 $25.07 and last traded at $24.40, up 0.7%, giving the company a market capitalization of approximately $1.31 billion.
• Recent analyst initiations were largely positive, with price targets ranging from $30 to $42. Despite five Buy ratings, the overall consensus remains Hold, with an average target of $38.40.
• The company reported a quarterly loss of $1.78 per share, missing the $0.71 consensus estimate, while director Robert J. Hombach purchased 13,000 shares and institutional investor TRV GP VI LLC acquired a 3.85% stake.

Seaport Therapeutics, Inc. (NASDAQ:SPTX - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $25.07 and last traded at $24.40, with a volume of 98612 shares. The stock had previously closed at $24.22.

Analyst Ratings Changes

Several equities research analysts recently commented on SPTX shares. Citigroup initiated coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They set a "buy" rating and a $35.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They set an "overweight" rating and a $42.00 price objective for the company. Stifel Nicolaus began coverage on Seaport Therapeutics in a report on Tuesday, May 26th. They set a "buy" rating and a $30.00 price target for the company. Leerink Partners began 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. Finally, Zacks Research raised Seaport Therapeutics to a "hold" rating in a research report on Wednesday, May 27th. Five research 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. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $38.40.

Seaport Therapeutics Trading Up 0.7%

The company's 50-day simple moving average is $20.52. The company has a market cap of $1.31 billion and a PE ratio of -2.01.

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

Insider Transactions at Seaport Therapeutics

In related news, Director Robert J. Hombach bought 13,000 shares of the stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the purchase, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of Seaport Therapeutics

An institutional investor 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) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,061,222 shares of the company's stock, valued at approximately $44,769,742,000. Seaport Therapeutics comprises about 19.3% of TRV GP VI LLC's portfolio, making the stock its 2nd largest holding. TRV GP VI LLC owned 3.85% of Seaport Therapeutics at the end of the most recent quarter.

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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