Shattuck Labs (NASDAQ:STTK) Rating Increased to Strong-Buy at Raymond James Financial

Raymond James Financial upgraded shares of Shattuck Labs (NASDAQ:STTK) to a strong-buy rating in a report published on Monday, Marketbeat.com reports. Raymond James Financial currently has $18.00 price target on the stock.

STTK has been the subject of several other research reports. HC Wainwright cut their price target on Shattuck Labs from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Wedbush boosted their price objective on Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Cantor Fitzgerald started coverage on shares of Shattuck Labs in a report on Monday, April 27th. They set an “overweight” rating on the stock. Weiss Ratings upgraded shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Finally, TD Cowen upgraded shares of Shattuck Labs to a “strong-buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $12.78.

Shattuck Labs Trading Up 2.0%

NASDAQ:STTK opened at $8.06 on Monday. Shattuck Labs has a 12 month low of $0.92 and a 12 month high of $8.33. The firm’s 50 day moving average is $6.89 and its 200 day moving average is $6.15. The stock has a market capitalization of $808.90 million, a PE ratio of -15.80 and a beta of 1.08.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). Research analysts predict that Shattuck Labs will post -0.43 earnings per share for the current year.

Insider Transactions at Shattuck Labs

In other Shattuck Labs news, insider Abhinav A. Shukla sold 23,365 shares of Shattuck Labs 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 transaction, the insider owned 86,380 shares of the company’s stock, valued at $611,570.40. The trade was a 21.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Clay B. Siegall acquired 62,500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average price of $4.00 per share, with a total value of $250,000.00. Following the completion of the transaction, the director directly owned 318,608 shares of the company’s stock, valued at $1,274,432. This trade represents a 24.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 53,875 shares of company stock valued at $379,305 over the last three months. Company insiders own 8.79% of the company’s stock.

Hedge Funds Weigh In On Shattuck Labs

A number of institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System bought a new position in shares of Shattuck Labs in the second quarter worth approximately $41,000. Legal & General Group Plc purchased a new position in shares of Shattuck Labs during the 2nd quarter valued at about $41,000. Virtu Financial LLC bought a new stake in Shattuck Labs in the 3rd quarter worth approximately $38,000. Squarepoint Ops LLC purchased a new stake in Shattuck Labs in the third quarter worth approximately $46,000. Finally, State of Wyoming bought a new position in Shattuck Labs during the second quarter valued at approximately $151,000. 58.74% of the stock is currently owned by institutional investors.

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.