Seaport Therapeutics (NASDAQ:SPTX) Coverage Initiated at HC Wainwright

Investment analysts at HC Wainwright initiated coverage on shares of Seaport Therapeutics (NASDAQ:SPTX) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $50.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 156.15% from the company’s current price.

A number of other research analysts have also recently issued reports on SPTX. Stifel Nicolaus started coverage on Seaport Therapeutics in a report on Tuesday, May 26th. They set a “buy” rating and a $30.00 price objective for the company. Zacks Research raised shares of Seaport Therapeutics to a “hold” rating in a report on Wednesday, May 27th. 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. Seaport Research Partners set a $50.00 target price on shares of Seaport Therapeutics in a research report on Wednesday. Finally, BNP Paribas Exane downgraded shares of Seaport Therapeutics to a “market perform” rating in a report on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $38.40.

Seaport Therapeutics Stock Performance

Shares of SPTX opened at $19.52 on Wednesday. Seaport Therapeutics has a 1 year low of $14.85 and a 1 year high of $23.00. The stock has a 50 day moving average of $18.33. The firm has a market cap of $1.04 billion and a PE ratio of -1.89.

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

Insider Buying and Selling at Seaport Therapeutics

In other Seaport Therapeutics news, major shareholder Arch Venture Partners Xii, Llc acquired 1,100,000 shares of Seaport Therapeutics stock in a transaction 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 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 purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert J. Hombach bought 13,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were acquired at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the acquisition, the director directly owned 13,000 shares of the company’s stock, valued at approximately $235,820. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure.