Key Points
- Director Denice Torres bought 5,000 Seaport Therapeutics shares at an average price of $19.86, investing $99,300; the purchase was disclosed in an SEC filing.
- Seaport reported quarterly earnings of -$0.49 per share, beating analysts’ consensus estimate of -$0.58.
- Analysts give the stock a consensus “Moderate Buy” rating, with an average price target of $37.25.
Seaport Therapeutics, Inc. (NASDAQ:SPTX - Get Free Report) Director Denice Torres purchased 5,000 shares of the company's stock in a transaction that occurred on 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 purchase, the director owned 5,000 shares of the company's stock, valued at $99,300. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Seaport Therapeutics Price Performance
SPTX opened at $20.96 on Thursday. Seaport Therapeutics, Inc. has a twelve month low of $14.85 and a twelve month high of $28.38. The business's 50-day moving average price is $20.92.
Seaport Therapeutics (NASDAQ:SPTX - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.09. As a group, analysts anticipate that Seaport Therapeutics, Inc. will post -4.45 EPS for the current fiscal year.
Hedge Funds Weigh In On Seaport Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TRV GP VI LLC acquired a new stake in Seaport Therapeutics in the second quarter valued at approximately $44,769,742. Citadel Advisors LLC bought a new stake in shares of Seaport Therapeutics during the second quarter worth $4,152,000. The Manufacturers Life Insurance Company acquired a new position in shares of Seaport Therapeutics during the second quarter worth $1,793,000. State Street Corp acquired a new position in shares of Seaport Therapeutics during the second quarter worth $1,448,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Seaport Therapeutics in the 2nd quarter valued at $1,629,000.
Analysts Set New Price Targets
Several research analysts have commented on the stock. JonesTrading began coverage on shares of Seaport Therapeutics in a research report on Wednesday, August 26th. They set a "buy" rating and a $32.00 price objective for the company. UBS Group reaffirmed a "buy" rating on shares of Seaport Therapeutics in a report on Thursday, October 8th. Canaccord Genuity Group started coverage on Seaport Therapeutics in a report on Wednesday, October 14th. They issued a "buy" rating and a $28.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $50.00 price target on shares of Seaport Therapeutics in a research note on Thursday, October 8th. Finally, Seaport Research Partners set a $28.00 price target on Seaport Therapeutics in a report on Wednesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.25.
Check Out Our Latest Stock Report on Seaport Therapeutics
Seaport Therapeutics Company Profile
(
Get Free Report)
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.
Further Reading
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