Seaport Therapeutics (NASDAQ:SPTX) Reaches New 12-Month High – Still a Buy?

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SPTX. Weiss Ratings began coverage on shares of Seaport Therapeutics in a research note on Tuesday, August 11th. They set a “sell (d+)” rating for the company. JPMorgan Chase & Co. began coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Seaport Therapeutics in a report on Tuesday, August 4th. BNP Paribas Exane downgraded shares of Seaport Therapeutics to a “market perform” rating in a research report on Tuesday, May 26th. Finally, Seaport Research Partners set a $50.00 price objective on shares of Seaport Therapeutics in a research note on Wednesday, July 15th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.40.

Seaport Therapeutics Price Performance

The company has a market cap of $1.31 billion and a P/E ratio of -2.01. The business’s 50 day simple moving average is $20.79.

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

Insider Transactions at Seaport Therapeutics

In other news, Director Robert J. Hombach bought 13,000 shares of Seaport Therapeutics stock in a transaction on Monday, June 22nd. The stock was purchased at an average cost of $18.14 per share, with a total value of $235,820.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Seaport Therapeutics

An institutional investor recently bought a new position in Seaport Therapeutics stock. TRV GP VI LLC acquired a new position in Seaport Therapeutics, Inc. (NASDAQ:SPTX) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,061,222 shares of the company’s stock, valued at approximately $44,769,742,000. Seaport Therapeutics makes up approximately 19.3% of TRV GP VI LLC’s holdings, making the stock its 2nd biggest holding. TRV GP VI LLC owned about 3.85% of Seaport Therapeutics at the end of the most recent reporting period.

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.