Shattuck Labs, Inc. (NASDAQ:STTK) Given Average Rating of “Hold” by Brokerages

Shattuck Labs, Inc. (NASDAQ:STTK) has received a consensus rating of “Hold” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $6.20.

Several research firms recently commented on STTK. Citigroup boosted their price objective on shares of Shattuck Labs from $2.00 to $4.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Piper Sandler initiated coverage on shares of Shattuck Labs in a research report on Wednesday, January 28th. They issued an “overweight” rating and a $15.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Shattuck Labs in a research note on Thursday, January 22nd. Finally, HC Wainwright upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Monday, December 1st.

Shattuck Labs Trading Down 3.9%

Shares of NASDAQ STTK traded down $0.16 during midday trading on Thursday, reaching $3.93. 59,073 shares of the company were exchanged, compared to its average volume of 729,902. The stock has a fifty day simple moving average of $3.79 and a 200 day simple moving average of $2.44. The stock has a market cap of $248.63 million, a P/E ratio of -3.83 and a beta of 1.52. Shattuck Labs has a 1 year low of $0.69 and a 1 year high of $4.89.

Institutional Trading of Shattuck Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC purchased a new position in Shattuck Labs in the 3rd quarter valued at about $15,072,000. Pinnacle Associates Ltd. raised its position in shares of Shattuck Labs by 1.8% in the third quarter. Pinnacle Associates Ltd. now owns 1,388,723 shares of the company’s stock valued at $3,319,000 after buying an additional 25,000 shares during the last quarter. Bank of America Corp DE lifted its stake 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 valued at $2,705,000 after buying an additional 1,094,997 shares during the period. 683 Capital Management LLC lifted its stake in shares of Shattuck Labs by 4.3% during the second quarter. 683 Capital Management LLC now owns 1,095,000 shares of the company’s stock valued at $867,000 after buying an additional 45,000 shares during the period. Finally, Geode Capital Management LLC boosted its position in Shattuck Labs by 32.1% during the fourth quarter. Geode Capital Management LLC now owns 618,277 shares of the company’s stock worth $2,258,000 after acquiring an additional 150,318 shares during 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.