Wall Street Zen Upgrades Shattuck Labs (NASDAQ:STTK) to “Buy”

Shattuck Labs (NASDAQ:STTK) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other equities research analysts have also weighed in on the company. Piper Sandler initiated coverage on Shattuck Labs in a research note on Wednesday, January 28th. They set an “overweight” rating and a $15.00 price target on the stock. Citigroup increased their price objective on shares of Shattuck Labs from $4.00 to $7.00 and gave the company a “neutral” rating in a research report on Friday, March 13th. Wedbush lifted their target price on shares of Shattuck Labs from $4.00 to $8.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Needham & Company LLC initiated coverage on shares of Shattuck Labs in a research report on Friday, March 6th. They set a “buy” rating and a $25.00 target price on the stock. Finally, HC Wainwright upgraded shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 price target on the stock in a research note on Monday, December 1st. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Shattuck Labs Price Performance

Shattuck Labs stock opened at $6.02 on Friday. The stock has a market capitalization of $430.79 million, a price-to-earnings ratio of -7.82 and a beta of 1.55. Shattuck Labs has a 1-year low of $0.69 and a 1-year high of $6.81. The business has a fifty day moving average price of $4.73 and a 200-day moving average price of $3.34.

Shattuck Labs (NASDAQ:STTK) last announced its earnings results on Thursday, March 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of ($1.00) million for the quarter, compared to analyst estimates of $0.17 million. On average, equities research analysts anticipate that Shattuck Labs will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in Shattuck Labs by 265.4% in the first 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. Jacobs Levy Equity Management Inc. acquired a new stake in Shattuck Labs during the 1st quarter worth about $81,000. Acadian Asset Management LLC raised its stake in shares of Shattuck Labs by 27.6% during the 1st quarter. Acadian Asset Management LLC now owns 257,345 shares of the company’s stock valued at $243,000 after buying an additional 55,687 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Shattuck Labs during the 2nd quarter valued at about $44,000. Finally, Jane Street Group LLC lifted its holdings in shares of Shattuck Labs by 2,510.8% in the 2nd quarter. Jane Street Group LLC now owns 289,671 shares of the company’s stock valued at $229,000 after buying an additional 278,576 shares during the period. Hedge funds and other institutional investors own 58.74% of the company’s stock.

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.