Needham & Company LLC Issues Positive Forecast for Shattuck Labs (NASDAQ:STTK) Stock Price

Shattuck Labs (NASDAQ:STTK) had its price target increased by analysts at Needham & Company LLC from $14.00 to $17.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 345.03% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Jefferies Financial Group raised shares of Shattuck Labs to an “outperform” rating and set a $7.00 target price for the company in a research report on Friday. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Shattuck Labs in a report on Monday. Citigroup raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Friday. Wall Street Zen downgraded shares of Shattuck Labs from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, Wedbush increased their price target on shares of Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Shattuck Labs Stock Down 16.6%

Shares of STTK stock traded down $0.76 during mid-day trading on Monday, reaching $3.82. The company’s stock had a trading volume of 4,163,183 shares, compared to its average volume of 648,843. The company’s 50 day simple moving average is $6.54 and its 200-day simple moving average is $4.88. Shattuck Labs has a 12-month low of $0.71 and a 12-month high of $8.33. The firm has a market capitalization of $292.92 million, a PE ratio of -6.10 and a beta of 1.08.

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

Insider Activity

In other news, insider Arundathy N. Pandite sold 30,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $6.61, for a total value of $198,300.00. Following the completion of the transaction, the insider owned 166,219 shares in the company, valued at approximately $1,098,707.59. This represents a 15.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of STTK. Orbimed Advisors LLC acquired a new stake in shares of Shattuck Labs in the third quarter valued at approximately $15,072,000. NEXTBio Capital Management LP acquired 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 stake in shares of Shattuck Labs in the fourth quarter valued at approximately $7,031,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Shattuck Labs in the fourth quarter valued at about $4,945,000. Finally, Bank of America Corp DE boosted its position in shares of Shattuck Labs by 2,968.2% in the third 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. Institutional investors own 58.74% of the company’s stock.

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.