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

Seaport Therapeutics (NASDAQ:SPTX) was upgraded by stock analysts at Zacks Research to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other brokerages have also weighed in on SPTX. Stifel Nicolaus began coverage on Seaport Therapeutics in a research report on Tuesday. They issued a “buy” rating and a $30.00 target price on the stock. JPMorgan Chase & Co. began coverage on Seaport Therapeutics in a research report on Tuesday. They issued an “overweight” rating and a $42.00 target price on the stock. Seaport Research Partners set a $42.00 price objective on shares of Seaport Therapeutics in a research report on Tuesday. Leerink Partners began coverage on shares of Seaport Therapeutics in a research report on Tuesday. They issued an “outperform” rating and a $35.00 price objective on the stock. Finally, BNP Paribas Exane downgraded shares of Seaport Therapeutics to a “market perform” rating in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.50.

Seaport Therapeutics Stock Up 4.2%

Seaport Therapeutics stock opened at $18.80 on Wednesday. Seaport Therapeutics has a 1 year low of $14.85 and a 1 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 business’s stock in a transaction that occurred on Monday, May 4th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the transaction, the insider directly owned 6,294,951 shares in the company, valued at $113,309,118. This trade represents a 21.17% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.