Seaport Therapeutics (NASDAQ:SPTX) Stock: Insider Denice Torres Purchases 5,000 Shares

Seaport Therapeutics, Inc. (NASDAQ:SPTX) Director Denice Torres acquired 5,000 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was bought at an average cost of $19.86 per share, with a total value of $99,300.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at approximately $99,300. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Seaport Therapeutics Stock Performance

NASDAQ SPTX opened at $20.20 on Wednesday. The firm’s 50 day moving average is $21.00. Seaport Therapeutics, Inc. has a fifty-two week low of $14.85 and a fifty-two week high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX) last released its quarterly earnings results on Monday, November 2nd. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.09. On average, equities analysts expect that Seaport Therapeutics, Inc. will post -4.52 earnings per share for the current year.

Analysts Set New Price Targets

SPTX has been the topic of several recent analyst reports. Seaport Research Partners set a $28.00 target price on shares of Seaport Therapeutics in a research note on Wednesday, October 14th. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Seaport Therapeutics in a report on Thursday, October 8th. Weiss Ratings lowered shares of Seaport Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Wolfe Research initiated coverage on shares of Seaport Therapeutics in a research report on Tuesday, July 7th. They issued a “hold” rating on the stock. Finally, Raymond James Financial assumed coverage on Seaport Therapeutics in a research report on Friday, September 25th. They set a “strong-buy” rating and a $46.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Seaport Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. lifted its holdings in Seaport Therapeutics by 30.5% during the 3rd quarter. Alps Advisors Inc. now owns 70,921 shares of the company’s stock valued at $1,430,000 after buying an additional 16,593 shares in the last quarter. HighTower Advisors LLC bought a new position in Seaport Therapeutics in the 2nd quarter worth about $362,000. Squarepoint Ops LLC bought a new position in Seaport Therapeutics in the 2nd quarter worth about $538,000. State Street Corp bought a new position in Seaport Therapeutics in the 2nd quarter worth about $1,448,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Seaport Therapeutics during the second quarter worth approximately $1,629,000.

About Seaport Therapeutics

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company uses its Glyph platform, a technology designed to create prodrugs that may improve the delivery, tolerability, and effectiveness of certain therapies, including treatments intended to reach the brain.

Seaport’s pipeline includes investigational therapies for neurological and neuropsychiatric conditions. Its programs have included GTX-102, an oral investigational medicine being developed for Angelman syndrome, a rare genetic neurodevelopmental disorder, as well as additional candidates aimed at addressing unmet needs in CNS care.

The company was established with support from PureTech Health and is headquartered in Boston, Massachusetts.