JPMorgan Chase & Co. Begins Coverage on Shattuck Labs (NASDAQ:STTK)

Stock analysts at JPMorgan Chase & Co. started coverage on shares of Shattuck Labs (NASDAQ:STTK) in a 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 points to a potential upside of 34.59% from the company’s current price.

Other research analysts also recently issued reports about the stock. Citigroup raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Friday, June 5th. Leerink Partners initiated coverage on shares of Shattuck Labs in a research report on Monday, July 20th. They issued an “outperform” rating and a $16.00 target price for the company. Wedbush lifted their target price on shares of Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Shattuck Labs in a research report on Monday, June 8th. Finally, Weiss Ratings raised shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.62.

Shattuck Labs Stock Performance

Shares of STTK stock opened at $7.43 on Friday. The firm has a market cap of $569.73 million, a P/E ratio of -11.79 and a beta of 1.05. Shattuck Labs has a fifty-two week low of $0.71 and a fifty-two week high of $8.33. The business’s 50 day moving average price is $5.96 and its 200-day moving average price is $5.66.

Shattuck Labs (NASDAQ:STTK) last posted its 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 in the previous year, the firm earned ($0.27) EPS. As a group, equities analysts predict that Shattuck Labs will post -0.51 EPS for the current year.

Insider Buying and Selling at Shattuck Labs

In other news, insider Arundathy N. Pandite sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were 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 approximately $1,098,707.59. The trade was a 15.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Abhinav A. Shukla sold 23,365 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total transaction of $165,424.20. Following the completion of the sale, the insider directly owned 86,380 shares in the company, 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. Over the last 90 days, insiders sold 85,907 shares of company stock valued at $591,850. 8.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shattuck Labs

Institutional investors and hedge funds have recently made changes to their positions in the business. OMERS ADMINISTRATION Corp lifted its holdings in shares of Shattuck Labs by 25.7% during the first 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 during the last quarter. The Manufacturers Life Insurance Company grew its stake 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 worth $915,000 after buying an additional 7,244 shares during the last quarter. Virtu Financial LLC bought a new position in Shattuck Labs during the 3rd quarter valued at approximately $38,000. Squarepoint Ops LLC bought a new position in Shattuck Labs during the 3rd quarter valued at approximately $46,000. Finally, Dimensional Fund Advisors LP purchased a new position in Shattuck Labs during the fourth quarter valued at $85,000. 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.