Shattuck Labs, Inc. (NASDAQ:STTK) Receives $11.00 Average PT from Brokerages

Shattuck Labs, Inc. (NASDAQ:STTK) has received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $11.00.

Several analysts have commented on STTK shares. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Shattuck Labs in a report on Monday, June 8th. Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 target price for the company in a research note on Friday, June 5th. Needham & Company LLC increased their target price on Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Citigroup raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Friday, June 5th. Finally, Cantor Fitzgerald assumed coverage on shares of Shattuck Labs in a report on Monday, April 27th. They issued an “overweight” rating for the company.

Insider Activity

In related news, insider Arundathy N. Pandite sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.01, for a total value of $210,300.00. Following the transaction, the insider directly owned 136,219 shares of the company’s stock, valued at approximately $954,895.19. This trade represents a 18.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Clay B. Siegall purchased 62,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average cost of $4.00 per share, for a total transaction of $250,000.00. Following the completion of the purchase, the director directly owned 318,608 shares in the company, valued at $1,274,432. This represents a 24.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 85,907 shares of company stock worth $591,850 over the last 90 days. 8.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Shattuck Labs

Large investors have recently bought and sold shares of the company. Orbimed Advisors LLC purchased a new position in shares of Shattuck Labs in the third quarter valued at approximately $15,072,000. NEXTBio Capital Management LP acquired a new position in Shattuck Labs in the 4th quarter valued at $11,497,000. Price T Rowe Associates Inc. MD acquired a new position in Shattuck Labs in the 4th quarter valued at $7,031,000. T. Rowe Price Investment Management Inc. purchased a new position in Shattuck Labs in the 4th quarter valued at $4,945,000. Finally, Bank of America Corp DE lifted its holdings 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 purchasing an additional 1,094,997 shares in the last quarter. 58.74% of the stock is currently owned by hedge funds and other institutional investors.

Shattuck Labs Stock Performance

Shares of Shattuck Labs stock opened at $7.07 on Friday. The firm has a 50-day simple moving average of $5.90 and a two-hundred day simple moving average of $5.53. The company has a market cap of $542.13 million, a P/E ratio of -11.22 and a beta of 1.05. Shattuck Labs has a fifty-two week low of $0.71 and a fifty-two week high of $8.33.

Shattuck Labs (NASDAQ:STTK) last posted 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 period last year, the firm earned ($0.27) EPS. Equities research analysts forecast that Shattuck Labs will post -0.51 EPS for the current year.

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.