Shattuck Labs (NASDAQ:STTK) Trading Up 7% – Still a Buy?

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup upgraded 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. Cantor Fitzgerald began coverage on shares of Shattuck Labs in a research note on Monday, April 27th. They set an “overweight” rating for the company. Wall Street Zen raised Shattuck Labs from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Shattuck Labs in a research report on Monday, June 8th. Finally, Weiss Ratings raised Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Shattuck Labs presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Shattuck Labs Stock Performance

The business’s 50-day moving average is $5.90 and its two-hundred day moving average is $5.53. The stock has a market capitalization of $571.88 million, a PE ratio of -11.84 and a beta of 1.05.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. During the same quarter in the previous year, the company posted ($0.27) EPS. Equities analysts forecast 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 that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $4.00 per share, with a total value of $250,000.00. Following the completion of the acquisition, the director directly owned 318,608 shares of the company’s stock, valued at approximately $1,274,432. This trade represents a 24.40% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Arundathy N. Pandite sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $6.61, for a total transaction of $198,300.00. Following the completion of the sale, the insider owned 166,219 shares of the company’s stock, valued at approximately $1,098,707.59. The trade was a 15.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 85,907 shares of company stock worth $591,850 over the last ninety days. 8.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shattuck Labs

A number of large investors have recently modified their holdings of STTK. Aberdeen Group plc lifted its holdings in shares of Shattuck Labs by 462.1% in the 4th quarter. Aberdeen Group plc now owns 531,177 shares of the company’s stock valued at $1,939,000 after buying an additional 436,673 shares during the period. NEXTBio Capital Management LP acquired a new position in Shattuck Labs during the fourth quarter worth $11,497,000. Keel Point LLC purchased a new position in Shattuck Labs in the third quarter worth $110,000. Mallini Complete Financial Planning LLC purchased a new position in Shattuck Labs in the fourth quarter worth $83,000. Finally, EP Wealth Advisors LLC purchased a new position in Shattuck Labs in the fourth quarter worth $150,000. 58.74% of the stock is owned by hedge funds and other institutional investors.

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.