Shattuck Labs, Inc. (NASDAQ:STTK) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Shattuck Labs, Inc. (NASDAQ:STTK) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $12.6250.

Several equities analysts have recently issued reports on STTK shares. Citigroup raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Friday, June 5th. Cantor Fitzgerald initiated coverage on shares of Shattuck Labs in a report on Monday, April 27th. They issued an “overweight” rating on the stock. Leerink Partners started coverage on shares of Shattuck Labs in a research report on Monday, July 20th. They issued an “outperform” rating and a $16.00 price objective on the stock. Wall Street Zen upgraded shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Shattuck Labs in a report on Monday, June 8th.

Insider Transactions at Shattuck Labs

In related news, insider Abhinav A. Shukla sold 23,365 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total value of $165,424.20. Following the completion of the sale, the insider owned 86,380 shares of the company’s stock, valued at $611,570.40. This represents a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Clay B. Siegall bought 62,500 shares of the stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $4.00 per share, for a total transaction of $250,000.00. Following the purchase, the director owned 318,608 shares in the company, valued at $1,274,432. This trade represents a 24.40% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders sold 85,907 shares of company stock valued at $591,850. 8.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp lifted its position in Shattuck Labs by 25.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock worth $214,000 after purchasing an additional 6,800 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Shattuck Labs by 5.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock worth $915,000 after buying an additional 7,244 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Shattuck Labs in the third quarter valued at $38,000. Squarepoint Ops LLC bought a new position in Shattuck Labs during the third quarter valued at about $46,000. Finally, Dimensional Fund Advisors LP bought a new position in Shattuck Labs during the fourth quarter valued at about $85,000. Institutional investors and hedge funds own 58.74% of the company’s stock.

Shattuck Labs Price Performance

NASDAQ:STTK opened at $7.37 on Thursday. The firm has a market capitalization of $565.14 million, a P/E ratio of -11.70 and a beta of 1.08. The business has a 50 day simple moving average of $6.14 and a 200 day simple moving average of $5.82. Shattuck Labs has a 12-month low of $0.71 and a 12-month high of $8.33.

Shattuck Labs (NASDAQ:STTK) last issued its earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. During the same period last year, the business earned ($0.27) earnings per share. Research analysts anticipate that Shattuck Labs will post -0.5 EPS for the current fiscal 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.