Leerink Partners Initiates Coverage on Shattuck Labs (NASDAQ:STTK)

Investment analysts at Leerink Partners assumed coverage on shares of Shattuck Labs (NASDAQ:STTK) in a research note issued on Monday, Marketbeat reports. The firm set an “outperform” rating and a $16.00 price target on the stock. Leerink Partners’ price target indicates a potential upside of 121.91% from the company’s previous close.

Several other research analysts also recently commented on the company. Cantor Fitzgerald initiated coverage on Shattuck Labs in a research note on Monday, April 27th. They set an “overweight” rating for the company. Weiss Ratings upgraded shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Citigroup raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Friday, June 5th. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of Shattuck Labs in a report on Monday, June 8th. Finally, Needham & Company LLC upped their price objective on shares of Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Shattuck Labs currently has an average rating of “Moderate Buy” and an average price target of $13.00.

Shattuck Labs Stock Performance

Shares of STTK stock opened at $7.21 on Monday. Shattuck Labs has a fifty-two week low of $0.71 and a fifty-two week high of $8.33. The stock’s fifty day moving average price is $5.92 and its two-hundred day moving average price is $5.60. The company has a market cap of $552.86 million, a PE ratio of -11.44 and a beta of 1.05.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. During the same period last year, the firm posted ($0.27) EPS. On average, equities analysts predict that Shattuck Labs will post -0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Clay B. Siegall bought 62,500 shares of the stock in a transaction on Tuesday, June 9th. The stock was acquired at an average price of $4.00 per share, with a total value of $250,000.00. Following the acquisition, the director directly owned 318,608 shares in the company, valued at approximately $1,274,432. This trade represents a 24.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Abhinav A. Shukla sold 23,365 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total value of $165,424.20. Following the completion of the transaction, the insider owned 86,380 shares of the company’s stock, valued at $611,570.40. This represents 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 sold a total of 85,907 shares of company stock valued at $591,850 in the last 90 days. Corporate insiders own 8.79% of the company’s stock.

Institutional Inflows and Outflows

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