Shattuck Labs (NASDAQ:STTK) Trading Up 5.5% After Analyst Upgrade

Shattuck Labs, Inc. (NASDAQ:STTK) traded up 5.5% on Monday after TD Cowen upgraded the stock to a strong-buy rating. The company traded as high as $7.91 and last traded at $7.9450. 885,206 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 893,689 shares. The stock had previously closed at $7.53.

A number of other equities analysts have also commented on STTK. Needham & Company LLC increased their price target on shares of Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Weiss Ratings upgraded shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. JPMorgan Chase & Co. began coverage on shares of Shattuck Labs in a research report on Friday, July 24th. They issued an “overweight” rating and a $10.00 target price for the company. Cantor Fitzgerald initiated coverage on Shattuck Labs in a research note on Monday, April 27th. They issued an “overweight” rating on the stock. Finally, Wedbush raised their price target on Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Shattuck Labs currently has a consensus rating of “Buy” and an average target price of $12.78.

Insider Activity at Shattuck Labs

In related news, Director Clay B. Siegall acquired 62,500 shares of the firm’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 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 purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Arundathy N. Pandite sold 30,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.01, for a total value of $210,300.00. Following the sale, the insider owned 136,219 shares of the company’s stock, valued at $954,895.19. This represents a 18.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 53,875 shares of company stock valued at $379,305. Insiders own 8.79% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Shattuck Labs during the third quarter valued at about $38,000. Legal & General Group Plc purchased a new position in Shattuck Labs during the 2nd quarter valued at about $41,000. California State Teachers Retirement System bought a new position in Shattuck Labs during the 2nd quarter valued at approximately $41,000. AQR Capital Management LLC raised its position in Shattuck Labs by 265.4% during the 1st quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock valued at $41,000 after purchasing an additional 31,355 shares during the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in Shattuck Labs during the 2nd quarter valued at approximately $44,000. Institutional investors own 58.74% of the company’s stock.

Shattuck Labs Trading Up 2.0%

The firm has a market cap of $808.90 million, a PE ratio of -15.80 and a beta of 1.08. The firm has a fifty day simple moving average of $6.89 and a two-hundred day simple moving average of $6.15.

Shattuck Labs (NASDAQ:STTK) last announced its earnings results on Tuesday, August 11th. The company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). Equities analysts expect that Shattuck Labs, Inc. will post -0.43 earnings per share 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.