Brokerages Set Seaport Therapeutics, Inc. (NASDAQ:SPTX) PT at $35.50

Seaport Therapeutics, Inc. (NASDAQ:SPTX) has earned a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $38.40.

Several research firms recently issued reports on SPTX. Citigroup started coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They issued a “buy” rating and a $35.00 target price for the company. Leerink Partners began coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They issued an “outperform” rating and a $35.00 price objective for the company. Zacks Research upgraded shares of Seaport Therapeutics to a “hold” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. began coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They set an “overweight” rating and a $42.00 target price on the stock. Finally, Stifel Nicolaus started 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.

Insider Activity at Seaport Therapeutics

In other Seaport Therapeutics news, major shareholder Arch Venture Partners Xii, Llc acquired 1,100,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the completion of the transaction, the insider directly owned 6,294,951 shares of the company’s stock, valued at $113,309,118. This represents a 21.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert J. Hombach bought 13,000 shares of Seaport Therapeutics stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $18.14 per share, with a total value of $235,820.00. Following the completion of the purchase, the director owned 13,000 shares in the company, valued at approximately $235,820. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information.

Seaport Therapeutics Stock Performance

Shares of SPTX stock opened at $20.85 on Wednesday. Seaport Therapeutics has a 1 year low of $14.85 and a 1 year high of $23.00. The company’s 50 day moving average is $18.43. The stock has a market capitalization of $1.12 billion and a P/E ratio of -2.02.

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