Shattuck Labs’ (STTK) “Buy” Rating Reaffirmed at HC Wainwright

Shattuck Labs (NASDAQ:STTK)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $18.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 278.31% from the stock’s previous close.

Several other brokerages also recently weighed in on STTK. Needham & Company LLC initiated coverage on Shattuck Labs in a research note on Friday, March 6th. They set a “buy” rating and a $25.00 target price on the stock. Weiss Ratings lowered Shattuck Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Wall Street Zen downgraded shares of Shattuck Labs from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Jefferies Financial Group upgraded shares of Shattuck Labs to an “outperform” rating and set a $7.00 target price for the company in a research note on Friday. Finally, TD Cowen restated a “buy” rating on shares of Shattuck Labs in a research note on Friday, March 6th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.14.

Shattuck Labs Stock Up 3.9%

Shares of Shattuck Labs stock opened at $4.76 on Monday. The firm’s 50 day moving average price is $6.54 and its 200-day moving average price is $4.88. Shattuck Labs has a 52-week low of $0.71 and a 52-week high of $8.33. The company has a market cap of $364.85 million, a P/E ratio of -7.55 and a beta of 1.08.

Shattuck Labs (NASDAQ:STTK) last announced its earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. During the same quarter last year, the company earned ($0.27) earnings per share. As a group, equities research analysts forecast that Shattuck Labs will post -0.51 EPS for the current fiscal year.

Insider Activity at Shattuck Labs

In related news, insider Arundathy N. Pandite sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $6.61, for a total value of $198,300.00. Following the sale, the insider owned 166,219 shares in the company, valued at $1,098,707.59. This represents a 15.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.79% of the stock is owned by company insiders.

Institutional Trading of Shattuck Labs

Several institutional investors and hedge funds have recently bought and sold shares of the business. Orbimed Advisors LLC purchased a new position in shares of Shattuck Labs during the 3rd quarter valued at approximately $15,072,000. NEXTBio Capital Management LP purchased a new stake in shares of Shattuck Labs in the fourth quarter valued at approximately $11,497,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Shattuck Labs during the 4th quarter worth approximately $7,031,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Shattuck Labs during the 4th quarter valued at approximately $4,945,000. Finally, Bank of America Corp DE grew its stake in Shattuck Labs by 2,968.2% in the 3rd quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock valued at $2,705,000 after acquiring an additional 1,094,997 shares during the period. 58.74% of the stock is currently owned by institutional investors and hedge funds.

Shattuck Labs Company Profile

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.