Citigroup Forecasts Strong Price Appreciation for Shattuck Labs (NASDAQ:STTK) Stock

Shattuck Labs (NASDAQ:STTK) had its price objective raised by investment analysts at Citigroup from $4.00 to $7.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 16.86% from the company’s current price.

Several other equities analysts have also issued reports on STTK. Needham & Company LLC started coverage on shares of Shattuck Labs in a report on Friday, March 6th. They set a “buy” rating and a $25.00 price objective on the stock. TD Cowen restated a “buy” rating on shares of Shattuck Labs in a report on Friday, March 6th. Wedbush increased their target price on Shattuck Labs from $4.00 to $8.00 and gave the company an “outperform” rating in a research report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shattuck Labs in a report on Thursday, January 22nd. Finally, HC Wainwright raised Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research report on Monday, December 1st. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.50.

Shattuck Labs Price Performance

Shares of Shattuck Labs stock opened at $5.99 on Friday. The stock has a market cap of $428.64 million, a price-to-earnings ratio of -7.78 and a beta of 1.55. The firm’s 50-day moving average is $4.41 and its two-hundred day moving average is $3.02. Shattuck Labs has a 1 year low of $0.69 and a 1 year high of $6.25.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings results on Thursday, March 5th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of ($1.00) million during the quarter, compared to the consensus estimate of $0.17 million. On average, equities analysts expect that Shattuck Labs will post -1.48 earnings per share for the current year.

Institutional Investors Weigh In On Shattuck Labs

Hedge funds and other institutional investors have recently bought and sold shares of the company. Orbimed Advisors LLC acquired a new stake in Shattuck Labs in the third quarter valued at approximately $15,072,000. NEXTBio Capital Management LP acquired a new position in shares of Shattuck Labs during the fourth quarter worth $11,497,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Shattuck Labs during the fourth quarter worth $7,031,000. Pinnacle Associates Ltd. lifted its holdings in shares of Shattuck Labs by 1.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,388,723 shares of the company’s stock valued at $3,319,000 after purchasing an additional 25,000 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Shattuck Labs in the 4th quarter worth $4,945,000. 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.