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

Shattuck Labs, Inc. (NASDAQ:STTK) has received a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $11.00.

STTK has been the topic of several analyst reports. Wedbush lifted their price target on Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Friday, June 5th. Jefferies Financial Group upgraded shares of Shattuck Labs to an “outperform” rating and set a $7.00 target price on the stock in a report on Friday, June 5th. Needham & Company LLC lifted their price objective on Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Finally, Wall Street Zen raised shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th.

Shattuck Labs Trading Down 5.5%

STTK traded down $0.39 during trading on Friday, hitting $6.64. The company’s stock had a trading volume of 1,727,056 shares, compared to its average volume of 1,612,968. The firm has a market capitalization of $509.16 million, a price-to-earnings ratio of -10.54 and a beta of 1.05. The business’s fifty day simple moving average is $5.90 and its 200 day simple moving average is $5.41. Shattuck Labs has a twelve month low of $0.71 and a twelve month high of $8.33.

Shattuck Labs (NASDAQ:STTK) last released its quarterly 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 quarter last year, the company posted ($0.27) EPS. As a group, equities research analysts forecast that Shattuck Labs will post -0.51 earnings per share for the current fiscal year.

Insider Activity at Shattuck Labs

In related news, insider Arundathy N. Pandite sold 30,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $6.61, for a total value of $198,300.00. Following the transaction, the insider directly owned 166,219 shares of the company’s stock, valued at $1,098,707.59. This trade represents a 15.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Abhinav A. Shukla sold 23,365 shares of Shattuck Labs stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total transaction of $165,424.20. Following the completion of the transaction, the insider directly owned 86,380 shares in the company, valued at $611,570.40. The trade was a 21.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 85,907 shares of company stock valued at $591,850 in the last ninety days. Insiders own 8.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC acquired a new position in Shattuck Labs during the third quarter worth $15,072,000. NEXTBio Capital Management LP acquired a new stake in shares of Shattuck Labs during the 4th quarter worth about $11,497,000. Price T Rowe Associates Inc. MD purchased a new stake in Shattuck Labs in the 4th quarter worth approximately $7,031,000. T. Rowe Price Investment Management Inc. acquired a new position in Shattuck Labs in the fourth quarter valued at $4,945,000. Finally, Bank of America Corp DE lifted its holdings in shares of Shattuck Labs by 2,968.2% during the 3rd quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock worth $2,705,000 after acquiring an additional 1,094,997 shares during the period. 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.