Seaport Therapeutics, Inc. (NASDAQ:SPTX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) have been given an average recommendation of “Hold” by the eight analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $35.50.

A number of brokerages have recently weighed in on SPTX. Leerink Partners started coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They issued an “outperform” rating and a $35.00 target price for the company. Wolfe Research began coverage on shares of Seaport Therapeutics in a research report on Tuesday, July 7th. They set a “hold” rating for the company. Stifel Nicolaus assumed coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They issued a “buy” rating and a $30.00 price target for the company. UBS Group cut shares of Seaport Therapeutics to a “sell” rating in a research report on Tuesday, June 9th. Finally, Wall Street Zen upgraded shares of Seaport Therapeutics to a “hold” rating in a report on Saturday, May 9th.

Seaport Therapeutics Stock Up 1.7%

Shares of NASDAQ:SPTX opened at $20.44 on Wednesday. The company has a fifty day moving average of $18.16. Seaport Therapeutics has a fifty-two week low of $14.85 and a fifty-two week high of $23.00. The company has a market capitalization of $1.09 billion and a PE ratio of -1.98.

Seaport Therapeutics (NASDAQ:SPTX) last announced its quarterly earnings results on Monday, June 8th. The company reported ($10.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($10.64) by $0.30.

Insider Buying and Selling

In other news, Director Robert J. Hombach bought 13,000 shares of the business’s stock in a transaction 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 purchase, the director owned 13,000 shares of the company’s stock, valued at approximately $235,820. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Arch Venture Partners Xii, Llc acquired 1,100,000 shares of the stock in a transaction dated Monday, May 4th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $19,800,000.00. Following the completion of the acquisition, the insider directly owned 6,294,951 shares of the company’s stock, valued at $113,309,118. The trade was a 21.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.