Seaport Therapeutics (NASDAQ:SPTX) Shares Gap Up – What’s Next?

by · The Markets Daily

Seaport Therapeutics, Inc. (NASDAQ:SPTX – Get Free Report) gapped up before the market opened on Friday. The stock had previously closed at $21.12, but opened at $22.20. Seaport Therapeutics shares last traded at $21.91, with a volume of 9,683 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have commented on SPTX. Wolfe Research initiated coverage on shares of Seaport Therapeutics in a research note on Tuesday, July 7th. They issued a “hold” rating for the company. Raymond James Financial started coverage on Seaport Therapeutics in a report on Friday. They set a “strong-buy” rating and a $46.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Seaport Therapeutics in a research report on Thursday, September 10th. JonesTrading started coverage on Seaport Therapeutics in a research note on Wednesday, August 26th. They issued a “buy” rating and a $32.00 target price for the company. Finally, UBS Group downgraded Seaport Therapeutics to a “sell” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.57.

Check Out Our Latest Report on Seaport Therapeutics

Seaport Therapeutics Trading Up 2.2%

The stock has a 50-day moving average of $22.85. The company has a market capitalization of $1.16 billion and a PE ratio of -1.78.

Seaport Therapeutics (NASDAQ:SPTX – Get Free Report) last announced its quarterly earnings results 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). Analysts forecast that Seaport Therapeutics, Inc. will post -4.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seaport Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC acquired a new stake in Seaport Therapeutics during the second quarter worth about $362,000. Squarepoint Ops LLC acquired a new position in shares of Seaport Therapeutics in the 2nd quarter valued at about $538,000. State Street Corp acquired a new position in shares of Seaport Therapeutics in the 2nd quarter valued at about $1,448,000. Alyeska Investment Group L.P. purchased a new stake in shares of Seaport Therapeutics during the 2nd quarter worth about $1,629,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in Seaport Therapeutics during the 2nd quarter worth approximately $1,793,000.

About Seaport Therapeutics

(Get Free Report)

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company is working to advance treatments for conditions in areas such as psychiatry and neurology, with the goal of addressing significant limitations associated with existing therapies.

Seaport’s drug-development efforts are supported by its proprietary Glyph platform, which is designed to enable oral delivery of therapeutics that have historically required injection or infusion.

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