Shattuck Labs, Inc. (NASDAQ:STTK) Receives $11.00 Average PT from Analysts

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

Several brokerages have weighed in on STTK. Needham & Company LLC increased their target price on shares of Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. 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 research note on Friday, June 5th. Wedbush upped their price objective on shares of Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Weiss Ratings raised shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Finally, Cantor Fitzgerald initiated coverage on shares of Shattuck Labs in a research report on Monday, April 27th. They set an “overweight” rating for the company.

Insiders Place Their Bets

In other news, insider Abhinav A. Shukla sold 23,365 shares of Shattuck Labs stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total value of $165,424.20. Following the completion of the sale, the insider directly owned 86,380 shares of the company’s stock, valued at approximately $611,570.40. The trade was a 21.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 value of $198,300.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 85,907 shares of company stock worth $591,850 over the last ninety days. Corporate insiders own 8.79% of the company’s stock.

Hedge Funds Weigh In On Shattuck Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of STTK. Orbimed Advisors LLC purchased a new stake in Shattuck Labs during the third quarter worth about $15,072,000. NEXTBio Capital Management LP purchased a new position in shares of Shattuck Labs in the fourth quarter valued at approximately $11,497,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Shattuck Labs in the fourth quarter valued at approximately $7,031,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Shattuck Labs in the fourth quarter valued at approximately $4,945,000. Finally, Bank of America Corp DE grew its holdings in shares of Shattuck Labs by 2,968.2% in the third quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock valued at $2,705,000 after purchasing an additional 1,094,997 shares in the last quarter. 58.74% of the stock is currently owned by hedge funds and other institutional investors.

Shattuck Labs Stock Up 6.5%

Shares of Shattuck Labs stock opened at $7.53 on Friday. Shattuck Labs has a 52 week low of $0.71 and a 52 week high of $8.33. The business’s fifty day simple moving average is $5.92 and its 200-day simple moving average is $5.54. The firm has a market cap of $577.41 million, a PE ratio of -11.95 and a beta of 1.05.

Shattuck Labs (NASDAQ:STTK) last released 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 in the previous year, the firm earned ($0.27) EPS. As a group, equities analysts expect that Shattuck Labs will post -0.51 earnings per share for the current year.

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.