Seaport Therapeutics (NASDAQ:SPTX) Hits New 52-Week High – Time to Buy?

Shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) reached a new 52-week high during trading on Monday . The company traded as high as $26.47 and last traded at $25.38, with a volume of 4329 shares traded. The stock had previously closed at $24.31.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SPTX shares. Stifel Nicolaus started coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They issued a “buy” rating and a $30.00 price target for the company. Leerink Partners assumed coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They set an “outperform” rating and a $35.00 price objective on the stock. Weiss Ratings started coverage on Seaport Therapeutics in a report on Tuesday, August 11th. They set a “sell (d+)” rating on the stock. Seaport Research Partners set a $32.00 target price on Seaport Therapeutics in a research report on Tuesday. Finally, Citigroup began 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. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $38.40.

Seaport Therapeutics Price Performance

The stock has a fifty day moving average price of $21.31. The stock has a market capitalization of $1.33 billion and a PE ratio of -2.05.

Seaport Therapeutics (NASDAQ:SPTX) last issued 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). As a group, sell-side analysts predict that Seaport Therapeutics, Inc. will post -4.6 EPS for the current fiscal year.

Insider Activity

In other Seaport Therapeutics news, Director Robert J. Hombach bought 13,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were acquired at an average cost of $18.14 per share, for a total transaction of $235,820.00. Following the acquisition, the director directly owned 13,000 shares of the company’s stock, valued at $235,820. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. acquired a new stake in shares of Seaport Therapeutics during the 2nd quarter valued at $1,629,000. Braidwell LP bought a new stake in shares of Seaport Therapeutics during the 2nd quarter worth $10,860,000. Finally, TRV GP VI LLC acquired a new position in shares of Seaport Therapeutics in the 2nd quarter worth $44,769,742,000.

Seaport Therapeutics Company Profile

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.