JonesTrading Begins Coverage on Seaport Therapeutics (NASDAQ:SPTX)

Stock analysts at JonesTrading assumed coverage on shares of Seaport Therapeutics (NASDAQ:SPTX) in a note issued to investors on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $32.00 price target on the stock. JonesTrading’s price objective suggests a potential upside of 27.64% from the company’s current price.

A number of other equities research analysts have also commented on SPTX. Citigroup assumed coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They issued a “buy” rating and a $35.00 price target on the stock. Wolfe Research initiated coverage on Seaport Therapeutics in a research report on Tuesday, July 7th. They set a “hold” rating for the company. UBS Group lowered Seaport Therapeutics to a “sell” rating in a research note on Tuesday, June 9th. JPMorgan Chase & Co. initiated coverage on Seaport Therapeutics in a report on Tuesday, May 26th. They issued an “overweight” rating and a $42.00 target price on the stock. Finally, Leerink Partners initiated coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set an “outperform” rating and a $35.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.33.

Seaport Therapeutics Stock Up 1.0%

Shares of NASDAQ:SPTX traded up $0.24 during mid-day trading on Wednesday, reaching $25.07. 14,956 shares of the company’s stock were exchanged, compared to its average volume of 210,191. Seaport Therapeutics has a twelve month low of $14.85 and a twelve month high of $26.47. The firm has a market cap of $1.34 billion and a price-to-earnings ratio of -2.07. The firm’s fifty day simple moving average is $21.31.

Seaport Therapeutics (NASDAQ:SPTX) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($1.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($1.07). Sell-side analysts anticipate that Seaport Therapeutics will post -4.6 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert J. Hombach purchased 13,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $18.14 per share, with a total value of $235,820.00. Following the completion of the transaction, the director owned 13,000 shares of the company’s stock, valued at $235,820. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TRV GP VI LLC acquired a new position in shares of Seaport Therapeutics in the 2nd quarter valued at about $44,769,742,000. HighTower Advisors LLC acquired a new stake in Seaport Therapeutics during the second quarter worth approximately $362,000. Braidwell LP acquired a new stake in Seaport Therapeutics during the second quarter worth approximately $10,860,000. Finally, Alyeska Investment Group L.P. bought a new stake in Seaport Therapeutics in the second quarter worth approximately $1,629,000.

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.