Shattuck Labs (NASDAQ:STTK) Stock Price Up 7% – Time to Buy?

Shares of Shattuck Labs, Inc. (NASDAQ:STTK) rose 7% on Friday . The company traded as high as $7.45 and last traded at $7.5650. Approximately 213,622 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 867,859 shares. The stock had previously closed at $7.07.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STTK. Cantor Fitzgerald assumed coverage on Shattuck Labs in a report on Monday, April 27th. They set an “overweight” rating for the company. Citigroup raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Friday, June 5th. Wedbush upped their price objective on shares of Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Weiss Ratings raised shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Finally, Wall Street Zen raised shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Shattuck Labs Price Performance

The firm has a market cap of $577.41 million, a P/E ratio of -11.95 and a beta of 1.05. The firm’s 50 day moving average is $5.92 and its 200 day moving average is $5.54.

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

Insider Transactions at Shattuck Labs

In other news, Director Clay B. Siegall purchased 62,500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were 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 directly owned 318,608 shares in the company, valued at $1,274,432. This represents a 24.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Arundathy N. Pandite sold 30,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $7.01, for a total transaction of $210,300.00. Following the sale, the insider owned 136,219 shares in the company, valued at approximately $954,895.19. The trade was a 18.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 85,907 shares of company stock valued at $591,850. Insiders own 8.79% of the company’s stock.

Institutional Trading of Shattuck Labs

Several institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of Shattuck Labs in the third quarter worth approximately $38,000. Squarepoint Ops LLC purchased a new stake in Shattuck Labs in the third quarter worth approximately $46,000. Dimensional Fund Advisors LP purchased a new stake in Shattuck Labs in the fourth quarter worth approximately $85,000. OMERS ADMINISTRATION Corp bought a new stake in Shattuck Labs in the 4th quarter worth approximately $97,000. Finally, Invesco Ltd. bought a new stake in Shattuck Labs in the 4th quarter worth approximately $103,000. 58.74% of the stock is currently owned by hedge funds and other institutional investors.

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.