Short Interest in Seaport Therapeutics, Inc. (NASDAQ:SPTX) Increases By ∞

Seaport Therapeutics, Inc. (NASDAQ:SPTX) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 1,459,469 shares, an increase of ∞ from the April 30th total of 0 shares. Based on an average daily trading volume, of 850,464 shares, the days-to-cover ratio is presently 1.7 days. Approximately 2.8% of the company’s shares are short sold.

Wall Street Analyst Weigh In

SPTX has been the topic of a number of research reports. Zacks Research upgraded shares of Seaport Therapeutics to a “hold” rating in a research report on Wednesday, May 27th. Seaport Research Partners set a $42.00 price objective on shares of Seaport Therapeutics in a report on Tuesday, May 26th. JPMorgan Chase & Co. assumed coverage on shares of Seaport Therapeutics in a research report on Tuesday, May 26th. They set an “overweight” rating and a $42.00 price objective on the stock. Citigroup started coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Wall Street Zen raised Seaport Therapeutics to a “hold” rating in a research note on Saturday, May 9th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Seaport Therapeutics Price Performance

Shares of NASDAQ:SPTX traded down $0.11 during midday trading on Monday, hitting $18.08. 10,183 shares of the company’s stock were exchanged, compared to its average volume of 350,881. Seaport Therapeutics has a 12 month low of $14.85 and a 12 month high of $23.00.

Insider Transactions at Seaport Therapeutics

In other Seaport Therapeutics 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 shares were purchased at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the acquisition, the insider owned 6,294,951 shares of the company’s stock, valued at approximately $113,309,118. This represents a 21.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.