Seaport Therapeutics (NASDAQ:SPTX) Issues Earnings Results, Beats Estimates By $0.30 EPS

Seaport Therapeutics (NASDAQ:SPTX) released its quarterly earnings results on Monday. The company reported ($10.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($10.64) by $0.30, Zacks reports.

Seaport Therapeutics Stock Performance

Shares of SPTX stock opened at $16.44 on Monday. Seaport Therapeutics has a twelve month low of $14.85 and a twelve month high of $23.00.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Seaport Therapeutics to a “hold” rating in a research note on Saturday, May 9th. Leerink Partners assumed coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They set an “outperform” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Seaport Therapeutics in a research note on Tuesday, May 26th. They set an “overweight” rating and a $42.00 price target on the stock. BNP Paribas Exane downgraded Seaport Therapeutics to a “market perform” rating in a research note on Tuesday, May 26th. Finally, Zacks Research upgraded Seaport Therapeutics to a “hold” rating in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.50.

Insider Buying and Selling at Seaport Therapeutics

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