Seaport Therapeutics, Inc. (NASDAQ:SPTX) Receives $35.50 Average Price Target from Analysts

Seaport Therapeutics, Inc. (NASDAQ:SPTX) has been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $35.50.

SPTX has been the topic of several research reports. Citigroup initiated coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They issued a “buy” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 target price on the stock. Zacks Research raised Seaport Therapeutics to a “hold” rating in a research report on Wednesday, May 27th. BNP Paribas Exane lowered Seaport Therapeutics to a “market perform” rating in a research report on Tuesday, May 26th. Finally, Seaport Research Partners set a $42.00 target price on Seaport Therapeutics in a research report on Tuesday, May 26th.

Insider Buying and Selling at Seaport Therapeutics

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

Seaport Therapeutics Stock Performance

Shares of SPTX opened at $17.13 on Tuesday. Seaport Therapeutics has a twelve month low of $14.85 and a twelve month high of $23.00.