Seaport Therapeutics (NASDAQ:SPTX) Shares Gap Down – Here’s Why

Seaport Therapeutics, Inc. (NASDAQ:SPTX) gapped down before the market opened on Friday. The stock had previously closed at $21.31, but opened at $20.10. Seaport Therapeutics shares last traded at $20.26, with a volume of 10,755 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective on shares of Seaport Therapeutics in a research note on Thursday, October 8th. Weiss Ratings raised Seaport Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, November 4th. Raymond James Financial began coverage on Seaport Therapeutics in a research note on Friday, September 25th. They issued a “strong-buy” rating and a $46.00 target price for the company. JonesTrading initiated coverage on Seaport Therapeutics in a report on Wednesday, August 26th. They set a “buy” rating and a $32.00 target price for the company. Finally, Canaccord Genuity Group assumed coverage on Seaport Therapeutics in a research report on Wednesday, October 14th. They set a “buy” rating and a $28.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Seaport Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $37.12.

Seaport Therapeutics Stock Down 0.9%

The firm has a market capitalization of $1.07 billion and a P/E ratio of -1.58. The firm has a 50 day moving average price of $20.46.

Seaport Therapeutics (NASDAQ:SPTX) last issued its quarterly earnings data on Monday, November 2nd. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.09. As a group, sell-side analysts anticipate that Seaport Therapeutics, Inc. will post -4.30 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Denice Torres purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were acquired at an average price of $19.86 per share, for a total transaction of $99,300.00. Following the completion of the acquisition, the director directly owned 5,000 shares in the company, valued at approximately $99,300. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. TRV GP VI LLC purchased a new stake in Seaport Therapeutics in the second quarter worth about $44,769,742. Citadel Advisors LLC purchased a new position in shares of Seaport Therapeutics during the 2nd quarter worth approximately $4,152,000. The Manufacturers Life Insurance Company purchased a new position in shares of Seaport Therapeutics during the 2nd quarter worth approximately $1,793,000. State Street Corp purchased a new position in shares of Seaport Therapeutics during the 2nd quarter worth approximately $1,448,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Seaport Therapeutics in the 2nd quarter worth approximately $1,629,000.

Seaport Therapeutics Company Profile

Seaport Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric disorders. The company uses its Glyph platform to design oral prodrugs intended to improve the delivery of therapies that can be difficult to administer or absorb by mouth. Its pipeline includes SPT-300, an oral prodrug of allopregnanolone being developed for depression. Seaport was launched in 2024 and is headquartered in Boston, Massachusetts. Its leadership includes founder and Chief Executive Officer Daphne Zohar.