Seaport Therapeutics (NASDAQ:SPTX) Stock Falls 7.3% – Should You Sell?

Seaport Therapeutics, Inc. (NASDAQ:SPTX) shares were down 7.3% during mid-day trading on Wednesday. The stock traded as low as $20.25 and last traded at $20.37. 64,534 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 227,733 shares. The stock had previously closed at $21.97.

Wall Street Analysts Forecast Growth

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

Seaport Therapeutics Trading Down 4.7%

The stock has a 50-day simple moving average of $20.60. The firm has a market cap of $1.12 billion and a PE ratio of -1.73.

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

Insiders Place Their Bets

In other news, Director Denice Torres acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was purchased at an average cost of $19.86 per share, with a total value of $99,300.00. Following the purchase, the director directly owned 5,000 shares of the company’s stock, valued at approximately $99,300. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SPTX. Alps Advisors Inc. increased its position in shares of Seaport Therapeutics by 30.5% in the third quarter. Alps Advisors Inc. now owns 70,921 shares of the company’s stock valued at $1,430,000 after buying an additional 16,593 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Seaport Therapeutics in the 2nd quarter worth about $362,000. Squarepoint Ops LLC purchased a new stake in shares of Seaport Therapeutics in the 2nd quarter worth about $538,000. State Street Corp acquired a new stake in Seaport Therapeutics in the 2nd quarter valued at about $1,448,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Seaport Therapeutics in the 2nd quarter valued at about $1,629,000.

About Seaport Therapeutics

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.