Seaport Therapeutics (NASDAQ:SPTX) Director Denice Torres Acquires 5,000 Shares of Stock

Seaport Therapeutics, Inc. (NASDAQ:SPTX) Director Denice Torres purchased 5,000 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was purchased at an average price of $19.86 per share, with a total value of $99,300.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at approximately $99,300. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Seaport Therapeutics Stock Performance

Shares of SPTX stock opened at $20.20 on Wednesday. Seaport Therapeutics, Inc. has a one year low of $14.85 and a one year high of $28.38. The company’s fifty day moving average price is $21.00.

Seaport Therapeutics (NASDAQ:SPTX) last released its earnings results on Monday, November 2nd. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.09. On average, equities analysts forecast that Seaport Therapeutics, Inc. will post -4.52 EPS for the current fiscal year.

Institutional Trading of Seaport Therapeutics

Hedge funds have recently modified their holdings of the company. TRV GP VI LLC bought a new stake in Seaport Therapeutics in the second quarter worth $44,769,742. Braidwell LP bought a new position in Seaport Therapeutics during the second quarter valued at $10,860,000. Citadel Advisors LLC bought a new position in Seaport Therapeutics during the second quarter valued at $4,152,000. The Manufacturers Life Insurance Company bought a new position in Seaport Therapeutics during the second quarter valued at $1,793,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Seaport Therapeutics in the 2nd quarter worth $1,629,000.

Analysts Set New Price Targets

Several analysts recently issued reports on SPTX shares. JonesTrading began coverage on Seaport Therapeutics in a research note on Wednesday, August 26th. They set a “buy” rating and a $32.00 target price on the stock. Canaccord Genuity Group initiated coverage on Seaport Therapeutics in a research note on Wednesday, October 14th. They issued a “buy” rating and a $28.00 price target for the company. Wolfe Research assumed coverage on shares of Seaport Therapeutics in a report on Tuesday, July 7th. They set a “hold” rating for the company. UBS Group reiterated a “buy” rating on shares of Seaport Therapeutics in a research report on Thursday, October 8th. Finally, Seaport Research Partners set a $28.00 target price on shares of 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 issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.25.

Seaport Therapeutics Company Profile

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.