Needham & Company LLC Begins Coverage on Shattuck Labs (NASDAQ:STTK)

Research analysts at Needham & Company LLC assumed coverage on shares of Shattuck Labs (NASDAQ:STTK) in a research report issued to clients and investors on Friday. The brokerage set a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 321.59% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Wedbush increased their target price on Shattuck Labs from $4.00 to $8.00 and gave the stock an “outperform” rating in a report on Friday. TD Cowen reiterated a “buy” rating on shares of Shattuck Labs in a report on Friday. Citigroup lifted their target price on Shattuck Labs from $2.00 to $4.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Shattuck Labs in a research note on Thursday, January 22nd. Finally, HC Wainwright raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Monday, December 1st. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Shattuck Labs Trading Up 16.3%

Shares of STTK stock traded up $0.83 on Friday, hitting $5.93. The stock had a trading volume of 1,009,644 shares, compared to its average volume of 668,563. The company has a fifty day moving average price of $4.12 and a two-hundred day moving average price of $2.79. The firm has a market cap of $375.25 million, a P/E ratio of -5.81 and a beta of 1.55. Shattuck Labs has a twelve month low of $0.69 and a twelve month high of $6.00.

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

Hedge Funds Weigh In On Shattuck Labs

Institutional investors have recently added to or reduced their stakes in the company. Orbimed Advisors LLC bought a new stake in Shattuck Labs during the third quarter worth $15,072,000. NEXTBio Capital Management LP acquired a new position in shares of Shattuck Labs during the 4th quarter worth about $11,497,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Shattuck Labs in the 4th quarter valued at about $7,031,000. T. Rowe Price Investment Management Inc. acquired a new stake in Shattuck Labs in the 4th quarter valued at about $4,945,000. Finally, Bank of America Corp DE grew its holdings in Shattuck Labs by 2,968.2% during the third quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock worth $2,705,000 after purchasing an additional 1,094,997 shares during the period. 58.74% of the stock is currently owned by institutional investors and hedge funds.

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.