Shattuck Labs (NASDAQ:STTK) Upgraded at Wall Street Zen

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

A number of other brokerages also recently weighed in on STTK. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Shattuck Labs in a research report on Monday, June 8th. Cantor Fitzgerald initiated coverage on Shattuck Labs in a research report on Monday, April 27th. They set an “overweight” rating on the stock. Citigroup raised Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Friday, June 5th. TD Cowen restated a “buy” rating on shares of Shattuck Labs in a report on Friday, March 6th. Finally, Needham & Company LLC boosted their price objective on Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Shattuck Labs Stock Up 18.2%

Shares of NASDAQ STTK opened at $4.94 on Friday. The business’s 50 day moving average price is $6.35 and its two-hundred day moving average price is $4.94. The company has a market cap of $378.80 million, a PE ratio of -7.84 and a beta of 1.08. Shattuck Labs has a twelve month low of $0.71 and a twelve month high of $8.33.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. During the same period last year, the company posted ($0.27) EPS. As a group, research analysts anticipate that Shattuck Labs will post -0.51 EPS for the current fiscal year.

Insider Activity at Shattuck Labs

In other news, Director Clay B. Siegall purchased 62,500 shares of Shattuck Labs stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average price of $4.00 per share, for a total transaction of $250,000.00. Following the transaction, the director owned 318,608 shares of the company’s stock, valued at approximately $1,274,432. The trade was a 24.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Arundathy N. Pandite sold 30,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $6.61, for a total transaction of $198,300.00. Following the sale, the insider owned 166,219 shares in the company, valued at $1,098,707.59. This represents a 15.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 8.79% of the company’s stock.

Institutional Investors Weigh In On Shattuck Labs

A number of large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings 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 valued at $915,000 after purchasing an additional 7,244 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its holdings in shares of Shattuck Labs by 25.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock valued at $214,000 after purchasing an additional 6,800 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Shattuck Labs by 77.4% in the 1st quarter. Renaissance Technologies LLC now owns 604,500 shares of the company’s stock valued at $3,887,000 after purchasing an additional 263,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Shattuck Labs by 571.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 155,642 shares of the company’s stock valued at $1,001,000 after purchasing an additional 132,450 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Shattuck Labs in the 1st quarter valued at $421,000. Institutional investors and hedge funds 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.