Seaport Therapeutics (NASDAQ:SPTX) Posts Quarterly Earnings Results, Misses Expectations By $1.07 EPS

Seaport Therapeutics (NASDAQ:SPTX) announced its earnings results on Monday. The company reported ($1.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($1.07), FiscalAI reports.

Seaport Therapeutics Price Performance

Shares of SPTX traded up $0.31 during mid-day trading on Wednesday, hitting $21.74. 11,011 shares of the company traded hands, compared to its average volume of 230,422. Seaport Therapeutics has a one year low of $14.85 and a one year high of $23.00. The business has a 50-day simple moving average of $19.43. The stock has a market capitalization of $1.16 billion and a PE ratio of -2.10.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SPTX shares. Wall Street Zen upgraded shares of Seaport Therapeutics to a “hold” rating in a research report on Saturday, May 9th. Zacks Research raised shares of Seaport Therapeutics to a “hold” rating in a report on Wednesday, May 27th. Stifel Nicolaus initiated coverage on shares of Seaport Therapeutics in a research note on Tuesday, May 26th. They issued a “buy” rating and a $30.00 target price for the company. Wolfe Research started coverage on Seaport Therapeutics in a report on Tuesday, July 7th. They issued a “hold” rating on the stock. Finally, Seaport Research Partners set a $50.00 price target on Seaport Therapeutics in a research report on Wednesday, July 15th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $38.40.

Insider Buying and Selling at Seaport Therapeutics

In related news, Director Robert J. Hombach acquired 13,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was purchased at an average price of $18.14 per share, for a total transaction of $235,820.00. Following the transaction, the director directly owned 13,000 shares of the company’s stock, valued at approximately $235,820. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Seaport Therapeutics, Inc is a healthcare company in the Pharmaceuticals industry.