Seaport Therapeutics, Inc. (NASDAQ:SPTX) Given Average Recommendation of “Hold” by Analysts

Seaport Therapeutics, Inc. (NASDAQ:SPTX) has received an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $35.50.

SPTX has been the subject of several analyst reports. Wall Street Zen raised shares of Seaport Therapeutics to a “hold” rating in a report on Saturday, May 9th. BNP Paribas Exane downgraded shares of Seaport Therapeutics to a “market perform” rating in a report on Tuesday, May 26th. Stifel Nicolaus initiated coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They issued a “buy” rating and a $30.00 price target for the company. Citigroup initiated coverage on shares of Seaport Therapeutics in a report on Tuesday, May 26th. They issued a “buy” rating and a $35.00 price target for the company. Finally, UBS Group downgraded shares of Seaport Therapeutics to a “sell” rating in a report on Tuesday, June 9th.

Seaport Therapeutics Stock Performance

Shares of NASDAQ:SPTX opened at $18.17 on Friday. Seaport Therapeutics has a one year low of $14.85 and a one year high of $23.00.

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

Insider Buying and Selling

In other news, major shareholder Arch Venture Partners Xii, Llc purchased 1,100,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was purchased at an average cost of $18.00 per share, with a total value of $19,800,000.00. Following the acquisition, the insider directly owned 6,294,951 shares in the company, valued at approximately $113,309,118. This trade 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.