Shattuck Labs (NASDAQ:STTK) Earns “Buy” Rating from HC Wainwright

Shattuck Labs (NASDAQ:STTK)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $18.00 target price on the stock. HC Wainwright’s price target points to a potential upside of 278.31% from the company’s previous close.

Other research analysts also recently issued reports about the company. Wedbush increased their target price on Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Shattuck Labs from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Needham & Company LLC started coverage on Shattuck Labs in a research note on Friday, March 6th. They set a “buy” rating and a $25.00 price objective on the stock. Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 price objective for the company in a research note on Friday. Finally, TD Cowen restated a “buy” rating on shares of Shattuck Labs in a report on Friday, March 6th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.14.

Shattuck Labs Stock Performance

STTK opened at $4.76 on Monday. The stock has a market cap of $364.85 million, a price-to-earnings ratio of -7.55 and a beta of 1.08. The firm’s fifty day moving average is $6.54 and its 200 day moving average is $4.88. Shattuck Labs has a fifty-two week low of $0.71 and a fifty-two week high of $8.33.

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, topping analysts’ consensus estimates of ($0.14) by $0.01. During the same period in the previous year, the business posted ($0.27) earnings per share. On average, equities research analysts predict that Shattuck Labs will post -0.51 earnings per share for the current year.

Insider Activity at Shattuck Labs

In other news, 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 sale, the insider directly owned 166,219 shares in the company, valued at approximately $1,098,707.59. This represents a 15.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.79% of the company’s stock.

Institutional Trading of Shattuck Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of STTK. Aberdeen Group plc increased its stake in 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 buying an additional 436,673 shares during the period. Mallini Complete Financial Planning LLC purchased a new stake in Shattuck Labs in the 4th quarter valued at about $83,000. Keel Point LLC bought a new position in Shattuck Labs in the 3rd quarter worth about $110,000. Pinnacle Associates Ltd. increased its position in shares of Shattuck Labs by 1.8% during the third quarter. Pinnacle Associates Ltd. now owns 1,388,723 shares of the company’s stock worth $3,319,000 after acquiring an additional 25,000 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its stake 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 acquiring an additional 6,800 shares in the last quarter. Hedge funds and other institutional investors own 58.74% of the company’s stock.

Shattuck Labs Company Profile

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.