Seaport Therapeutics (NASDAQ:SPTX) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Seaport Therapeutics (NASDAQ:SPTX) to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

Several other equities analysts have also commented on the stock. Wall Street Zen upgraded shares of Seaport Therapeutics to a “hold” rating in a report on Saturday, May 9th. Leerink Partners started coverage on shares of Seaport Therapeutics in a research note on Tuesday. They set an “outperform” rating and a $35.00 target price on the stock. BNP Paribas Exane downgraded shares of Seaport Therapeutics to a “market perform” rating in a research note on Tuesday. JPMorgan Chase & Co. started coverage on shares of Seaport Therapeutics in a research note on Tuesday. They set an “overweight” rating and a $42.00 target price on the stock. Finally, Stifel Nicolaus started coverage on shares of Seaport Therapeutics in a research note on Tuesday. They set a “buy” rating and a $30.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

Seaport Therapeutics Stock Performance

Shares of SPTX stock opened at $18.80 on Wednesday. Seaport Therapeutics has a one year low of $14.85 and a one year high of $23.00.

Insiders Place Their Bets

In other news, major shareholder Arch Venture Partners Xii, Llc acquired 1,100,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were bought at an average cost of $18.00 per share, with a total value of $19,800,000.00. Following the transaction, the insider owned 6,294,951 shares in the company, valued at approximately $113,309,118. This trade represents a 21.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.