Shattuck Labs (NASDAQ:STTK) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. started coverage on shares of Shattuck Labs (NASDAQ:STTK) in a research report issued on Friday,Benzinga reports. The brokerage set an “overweight” rating and a $10.00 price target on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 41.04% from the company’s previous close.

A number of other research analysts have also weighed in on STTK. Needham & Company LLC raised their target price on Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, June 8th. Wall Street Zen raised shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Weiss Ratings raised shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Wedbush boosted their target price on Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Leerink Partners began coverage on Shattuck Labs in a research report on Monday. They set an “outperform” rating and a $16.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.62.

Shattuck Labs Price Performance

Shattuck Labs stock opened at $7.09 on Friday. The firm has a market cap of $543.66 million, a P/E ratio of -11.25 and a beta of 1.05. Shattuck Labs has a one year low of $0.71 and a one year high of $8.33. The stock’s 50 day moving average is $5.94 and its 200 day moving average is $5.65.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings data 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 firm earned ($0.27) EPS. Equities analysts anticipate that Shattuck Labs will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Shattuck Labs

In other Shattuck Labs news, 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 transaction of $210,300.00. Following the completion of the transaction, the insider owned 136,219 shares in the company, valued at $954,895.19. This trade represents a 18.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Abhinav A. Shukla sold 23,365 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total value of $165,424.20. Following the sale, the insider owned 86,380 shares in the company, valued at approximately $611,570.40. This represents a 21.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 85,907 shares of company stock valued at $591,850 over the last three months. 8.79% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Shattuck Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in Shattuck Labs during the third quarter valued at approximately $38,000. AQR Capital Management LLC boosted its holdings in shares of Shattuck Labs by 265.4% in the 1st quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock worth $41,000 after purchasing an additional 31,355 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Shattuck Labs in the 2nd quarter worth about $44,000. Squarepoint Ops LLC bought a new position in shares of Shattuck Labs during the 3rd quarter valued at about $46,000. Finally, Bridgeway Capital Management LLC increased its position in shares of Shattuck Labs by 147.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 92,300 shares of the company’s stock valued at $73,000 after purchasing an additional 55,000 shares during the last quarter. 58.74% of the stock is currently 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.