Shattuck Labs, Inc. (NASDAQ:STTK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Shattuck Labs, Inc. (NASDAQ:STTK) have been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $10.50.

Several brokerages recently issued reports on STTK. Wall Street Zen upgraded Shattuck Labs from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. TD Cowen restated a “buy” rating on shares of Shattuck Labs in a report on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shattuck Labs in a research note on Thursday, January 22nd. Wedbush upped their price target on shares of Shattuck Labs from $4.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, March 6th. Finally, Needham & Company LLC started coverage on shares of Shattuck Labs in a research report on Friday, March 6th. They set a “buy” rating and a $25.00 price objective for the company.

Shattuck Labs Price Performance

Shares of STTK stock opened at $6.42 on Friday. The stock has a market cap of $459.42 million, a PE ratio of -8.34 and a beta of 1.28. The stock has a 50-day moving average of $4.88 and a 200-day moving average of $3.47. Shattuck Labs has a one year low of $0.69 and a one year high of $6.81.

Shattuck Labs (NASDAQ:STTK) last issued its earnings results on Thursday, March 5th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of ($1.00) million during the quarter, compared to the consensus estimate of $0.17 million. As a group, research analysts anticipate that Shattuck Labs will post -1.48 earnings per share for the current year.

Hedge Funds Weigh In On Shattuck Labs

A number of large investors have recently added to or reduced their stakes in STTK. Orbimed Advisors LLC acquired a new stake in shares of Shattuck Labs in the 3rd quarter valued at about $15,072,000. NEXTBio Capital Management LP acquired a new position in shares of Shattuck Labs during the fourth quarter worth about $11,497,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Shattuck Labs during the fourth quarter worth about $7,031,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Shattuck Labs during the fourth quarter worth about $4,945,000. Finally, Bank of America Corp DE grew its holdings in shares of Shattuck Labs by 2,968.2% during the third quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock worth $2,705,000 after buying an additional 1,094,997 shares in the last quarter. Institutional investors own 58.74% of the company’s stock.

About Shattuck Labs

Shattuck Labs, Inc (NASDAQ: STTK) is a clinical‐stage biotechnology company headquartered in Cambridge, Massachusetts. The company is focused on developing immunotherapeutic vaccines to prevent and treat substance use disorders, with an initial emphasis on opioids. Shattuck Labs employs a proprietary hapten‐carrier conjugate technology designed to generate high‐affinity drug‐specific antibodies that sequester target molecules in the bloodstream and reduce their passage across the blood‐brain barrier.

The company’s lead program targets fentanyl, a synthetic opioid responsible for a significant proportion of overdose fatalities.