Shattuck Labs (NASDAQ:STTK) Upgraded by TD Cowen to Strong-Buy Rating

Shattuck Labs (NASDAQ:STTK) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on STTK. Weiss Ratings raised Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 target price on the stock in a report on Friday, June 5th. Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Friday, June 5th. Wall Street Zen downgraded Shattuck Labs from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Finally, HC Wainwright lowered their price objective on Shattuck Labs from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $12.78.

Shattuck Labs Trading Up 4.9%

Shares of NASDAQ STTK opened at $7.90 on Monday. Shattuck Labs has a 12 month low of $0.92 and a 12 month high of $8.33. The company has a 50 day simple moving average of $6.81 and a two-hundred day simple moving average of $6.12. The stock has a market cap of $792.84 million, a price-to-earnings ratio of -15.49 and a beta of 1.08.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). Analysts forecast that Shattuck Labs will post -0.43 EPS for the current year.

Insider Buying and Selling

In related news, insider Abhinav A. Shukla sold 23,365 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total value of $165,424.20. Following the transaction, the insider directly owned 86,380 shares of the company’s stock, valued at approximately $611,570.40. This trade represents a 21.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Clay B. Siegall acquired 62,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average price of $4.00 per share, for a total transaction of $250,000.00. Following the completion of the acquisition, the director owned 318,608 shares in the company, valued at $1,274,432. The trade was a 24.40% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 53,875 shares of company stock valued at $379,305. 8.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shattuck Labs

Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System purchased a new position in Shattuck Labs in the 2nd quarter valued at $41,000. Frazier Life Sciences Management L.P. acquired a new position in Shattuck Labs during the second quarter worth about $26,025,000. Wellington Management Group LLP purchased a new stake in Shattuck Labs during the 2nd quarter valued at about $12,269,000. Bank of America Corp DE purchased a new stake in Shattuck Labs during the 2nd quarter valued at about $319,000. Finally, Hsbc Holdings PLC purchased a new stake in Shattuck Labs during the 2nd quarter valued at about $312,000. Hedge funds and other 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.