Seaport Therapeutics (NASDAQ:SPTX) Releases Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Seaport Therapeutics (NASDAQ:SPTX) released its earnings results on Monday. The company reported ($10.34) EPS for the quarter, topping the consensus estimate of ($10.64) by $0.30, Zacks reports.

Seaport Therapeutics Stock Down 1.5%

Seaport Therapeutics stock opened at $16.20 on Tuesday. Seaport Therapeutics has a 52-week low of $14.85 and a 52-week high of $23.00.

Insider Transactions at Seaport Therapeutics

In other Seaport Therapeutics news, major shareholder Arch Venture Partners Xii, Llc purchased 1,100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were bought at an average price of $18.00 per share, with a total value of $19,800,000.00. Following the completion of the purchase, the insider directly owned 6,294,951 shares in the company, valued at $113,309,118. This trade represents a 21.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. UBS Group downgraded shares of Seaport Therapeutics to a “sell” rating in a report on Tuesday. Wall Street Zen raised shares of Seaport Therapeutics to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. assumed coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They set an “overweight” rating and a $42.00 price target on the stock. BNP Paribas Exane downgraded shares of Seaport Therapeutics to a “market perform” rating in a research note on Tuesday, May 26th. Finally, Seaport Research Partners set a $42.00 price target on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Seaport Therapeutics has an average rating of “Hold” and an average price target of $35.50.