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

Shares of Shattuck Labs, Inc. (NASDAQ:STTK) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $11.00.

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 target price for the company in a research note on Friday, June 5th. Cantor Fitzgerald assumed coverage on Shattuck Labs in a research note on Monday, April 27th. They set an “overweight” rating for the company. Needham & Company LLC increased their target price on Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Finally, TD Cowen reissued a “buy” rating on shares of Shattuck Labs in a research note on Friday, March 6th.

Shattuck Labs Stock Up 2.9%

Shares of STTK stock opened at $5.39 on Wednesday. The stock has a market capitalization of $413.31 million, a PE ratio of -8.56 and a beta of 1.08. Shattuck Labs has a 52-week low of $0.71 and a 52-week high of $8.33. The stock’s 50-day moving average price is $6.08 and its 200 day moving average price is $5.09.

Shattuck Labs (NASDAQ:STTK) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. During the same period last year, the firm posted ($0.27) earnings per share. Analysts expect that Shattuck Labs will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Shattuck Labs news, Director Clay B. Siegall bought 62,500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average cost of $4.00 per share, with a total value of $250,000.00. Following the purchase, the director owned 318,608 shares in the company, valued at approximately $1,274,432. This represents a 24.40% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 value of $198,300.00. Following the transaction, the insider directly owned 166,219 shares of the company’s stock, valued at approximately $1,098,707.59. This trade represents a 15.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 8.79% of the company’s stock.

Institutional Investors Weigh In On Shattuck Labs

Institutional investors and hedge funds have recently modified their holdings of the company. Aberdeen Group plc grew its holdings in shares of Shattuck Labs by 462.1% in the 4th quarter. Aberdeen Group plc now owns 531,177 shares of the company’s stock worth $1,939,000 after acquiring an additional 436,673 shares during the period. NEXTBio Capital Management LP acquired a new stake in shares of Shattuck Labs in the 4th quarter worth approximately $11,497,000. OMERS ADMINISTRATION Corp grew 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 worth $214,000 after acquiring an additional 6,800 shares during the period. Renaissance Technologies LLC grew 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 worth $3,887,000 after acquiring an additional 263,800 shares during the period. Finally, Dimensional Fund Advisors LP grew 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 worth $1,001,000 after acquiring an additional 132,450 shares during the period. 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.