Shattuck Labs (NASDAQ:STTK) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Shattuck Labs (NASDAQ:STTK) in a report released on Friday morning,Benzinga reports. The brokerage issued an overweight rating and a $10.00 target price on the stock.

A number of other research analysts also recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Shattuck Labs in a research report on Monday, June 8th. Wedbush lifted their price target on shares of Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Jefferies Financial Group upgraded shares of Shattuck Labs to an “outperform” rating and set a $7.00 price objective on the stock in a report on Friday, June 5th. Finally, 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 note on Friday, June 5th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.62.

Shattuck Labs Stock Performance

NASDAQ STTK opened at $7.43 on Friday. The stock has a fifty day moving average of $5.96 and a 200-day moving average of $5.66. The stock has a market capitalization of $569.73 million, a P/E ratio of -11.79 and a beta of 1.05. Shattuck Labs has a 52 week low of $0.71 and a 52 week high of $8.33.

Shattuck Labs (NASDAQ:STTK) last released 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 period in the prior year, the company posted ($0.27) EPS. Equities research analysts forecast that Shattuck Labs will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Shattuck Labs

In related news, Director Clay B. Siegall bought 62,500 shares of Shattuck Labs stock in a transaction on 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 owned 318,608 shares in the company, valued at approximately $1,274,432. This represents a 24.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Abhinav A. Shukla sold 23,365 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total value of $165,424.20. Following the transaction, the insider owned 86,380 shares of the company’s stock, valued at $611,570.40. The trade was a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 85,907 shares of company stock valued at $591,850. 8.79% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Shattuck Labs

Several large investors have recently bought and sold shares of STTK. Aberdeen Group plc boosted its position in shares of Shattuck Labs by 462.1% during the fourth quarter. Aberdeen Group plc now owns 531,177 shares of the company’s stock worth $1,939,000 after purchasing an additional 436,673 shares in the last quarter. NEXTBio Capital Management LP bought a new stake in shares of Shattuck Labs in the 4th quarter valued at $11,497,000. Bridgeway Capital Management LLC raised its stake in Shattuck Labs by 147.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 92,300 shares of the company’s stock worth $73,000 after buying an additional 55,000 shares during the period. Squarepoint Ops LLC acquired a new stake in Shattuck Labs during the 3rd quarter worth $46,000. Finally, Qube Research & Technologies Ltd bought a new position in Shattuck Labs during the second quarter worth about $44,000. 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.