Shattuck Labs (NASDAQ:STTK) Now Covered by Leerink Partners

Leerink Partners initiated coverage on shares of Shattuck Labs (NASDAQ:STTK) in a research report released on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $16.00 target price on the stock.

Other analysts also recently issued reports about the company. Needham & Company LLC increased their price objective on Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Cantor Fitzgerald began coverage on Shattuck Labs in a research report on Monday, April 27th. They set an “overweight” rating on the stock. Jefferies Financial Group upgraded Shattuck Labs to an “outperform” rating and set a $7.00 price target for the company in a report on Friday, June 5th. Wedbush increased their price target on Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Shattuck Labs in a research report on Monday, June 8th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Shattuck Labs currently has an average rating of “Moderate Buy” and an average price target of $13.00.

Shattuck Labs Price Performance

Shares of NASDAQ STTK opened at $6.82 on Monday. The company has a 50-day moving average price of $5.91 and a 200-day moving average price of $5.58. The stock has a market capitalization of $522.96 million, a P/E ratio of -10.83 and a beta of 1.05. Shattuck Labs has a 1 year low of $0.71 and a 1 year high of $8.33.

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

Insider Buying and Selling at Shattuck Labs

In other news, insider Abhinav A. Shukla sold 23,365 shares of Shattuck Labs stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total transaction of $165,424.20. Following the sale, the insider directly owned 86,380 shares in the company, valued at $611,570.40. The trade was a 21.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Arundathy N. Pandite sold 30,000 shares of Shattuck Labs stock in a transaction 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. The trade was a 15.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 85,907 shares of company stock worth $591,850 in the last quarter. 8.79% of the stock is currently owned by company insiders.

Institutional Trading of Shattuck Labs

A number of large investors have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC purchased a new position in Shattuck Labs in the third quarter valued at about $15,072,000. NEXTBio Capital Management LP purchased a new stake in shares of Shattuck Labs during the 4th quarter worth approximately $11,497,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Shattuck Labs in the 4th quarter worth approximately $7,031,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Shattuck Labs in the 4th quarter worth approximately $4,945,000. Finally, Bank of America Corp DE lifted its stake in 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 purchasing an additional 1,094,997 shares during the last quarter. Hedge funds and other 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.