The Manufacturers Life Insurance Company Takes $1.79 Million Position in Seaport Therapeutics, Inc. $SPTX

The Manufacturers Life Insurance Company bought a new stake in shares of Seaport Therapeutics, Inc. (NASDAQ:SPTX) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 82,565 shares of the company’s stock, valued at approximately $1,793,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TRV GP VI LLC purchased a new position in Seaport Therapeutics in the 2nd quarter worth approximately $44,769,742. Citadel Advisors LLC purchased a new stake in shares of Seaport Therapeutics during the second quarter valued at approximately $4,152,000. Alyeska Investment Group L.P. acquired a new position in shares of Seaport Therapeutics during the second quarter worth $1,629,000. Braidwell LP acquired a new position in shares of Seaport Therapeutics during the second quarter worth $10,860,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Seaport Therapeutics in the second quarter valued at $538,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on SPTX. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target on shares of Seaport Therapeutics in a report on Thursday. Zacks Research upgraded shares of Seaport Therapeutics to a “hold” rating in a report on Wednesday, May 27th. JonesTrading initiated coverage on shares of Seaport Therapeutics in a research report on Wednesday, August 26th. They issued a “buy” rating and a $32.00 price objective for the company. Wolfe Research began coverage on Seaport Therapeutics in a research note on Tuesday, July 7th. They set a “hold” rating for the company. Finally, Leerink Partners initiated coverage on Seaport Therapeutics in a research report on Tuesday, May 26th. They set an “outperform” rating and a $35.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.33.

Seaport Therapeutics Stock Performance

Shares of NASDAQ:SPTX opened at $23.34 on Monday. The company has a market capitalization of $1.25 billion and a price-to-earnings ratio of -1.93. The stock has a fifty day moving average of $22.50. Seaport Therapeutics, Inc. has a 12-month low of $14.85 and a 12-month high of $28.38.

Seaport Therapeutics (NASDAQ:SPTX) last posted its quarterly earnings data on Monday, August 3rd. The company reported ($1.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($1.07). As a group, analysts forecast that Seaport Therapeutics, Inc. will post -4.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert Hombach purchased 13,000 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was acquired at an average cost of $18.14 per share, for a total transaction of $235,820.00. Following the completion of the purchase, the director owned 13,000 shares of the company’s stock, valued at approximately $235,820. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Seaport Therapeutics Profile

Seaport Therapeutics is a clinical-stage biopharmaceutical company focused on developing medicines for central nervous system (CNS) disorders. The company is working to advance treatments for conditions in areas such as psychiatry and neurology, with the goal of addressing significant limitations associated with existing therapies.

Seaport’s drug-development efforts are supported by its proprietary Glyph platform, which is designed to enable oral delivery of therapeutics that have historically required injection or infusion.