Seaport Therapeutics (NASDAQ:SPTX) Upgraded by HC Wainwright to Strong-Buy Rating

Seaport Therapeutics (NASDAQ:SPTX) was upgraded by investment analysts at HC Wainwright to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research firms have also issued reports on SPTX. Wall Street Zen raised Seaport Therapeutics to a “hold” rating in a report on Saturday, May 9th. UBS Group lowered Seaport Therapeutics to a “sell” rating in a report on Tuesday, June 9th. Seaport Research Partners set a $50.00 price target on shares of Seaport Therapeutics in a research report on Wednesday. Wolfe Research started coverage on Seaport Therapeutics in a research report on Tuesday, July 7th. They set a “hold” rating for the company. Finally, Leerink Partners assumed coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They issued an “outperform” rating and a $35.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.40.

Seaport Therapeutics Stock Up 0.0%

Shares of NASDAQ:SPTX opened at $20.45 on Wednesday. Seaport Therapeutics has a 52 week low of $14.85 and a 52 week high of $23.00. The firm has a market capitalization of $1.09 billion and a price-to-earnings ratio of -1.98. The company has a 50 day moving average price of $18.25.

Seaport Therapeutics (NASDAQ:SPTX) last issued its quarterly earnings data on Monday, June 8th. The company reported ($10.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($10.64) by $0.30.

Insider Buying and Selling at Seaport Therapeutics

In related news, major shareholder Arch Venture Partners Xii, Llc purchased 1,100,000 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the transaction, the insider directly owned 6,294,951 shares of the company’s stock, valued at approximately $113,309,118. This trade represents a 21.17% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert J. Hombach purchased 13,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were purchased at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the completion of the purchase, the director directly owned 13,000 shares of the company’s stock, valued at approximately $235,820. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing.