Shattuck Labs (NASDAQ:STTK) Given New $7.00 Price Target at Citigroup

Shattuck Labs (NASDAQ:STTK) had its price target hoisted by analysts at Citigroup from $4.00 to $7.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 16.86% from the company’s current price.

A number of other research analysts have also recently commented on STTK. Needham & Company LLC assumed coverage on Shattuck Labs in a report on Friday, March 6th. They issued a “buy” rating and a $25.00 price objective on the stock. Piper Sandler initiated coverage on Shattuck Labs in a research note on Wednesday, January 28th. They set an “overweight” rating and a $15.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shattuck Labs in a research note on Thursday, January 22nd. Wedbush increased their price target on Shattuck Labs from $4.00 to $8.00 and gave the stock an “outperform” rating in a report on Friday, March 6th. Finally, HC Wainwright raised 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. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Shattuck Labs currently has a consensus rating of “Moderate Buy” and an average price target of $10.50.

Shattuck Labs Trading Down 2.3%

Shattuck Labs stock traded down $0.14 during midday trading on Friday, hitting $5.99. 354,267 shares of the stock were exchanged, compared to its average volume of 687,476. The stock’s 50-day simple moving average is $4.36 and its 200 day simple moving average is $2.97. Shattuck Labs has a fifty-two week low of $0.69 and a fifty-two week high of $6.25. The stock has a market capitalization of $428.64 million, a price-to-earnings ratio of -7.78 and a beta of 1.55.

Shattuck Labs (NASDAQ:STTK) last posted its earnings results on Thursday, March 5th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of ($1.00) million during the quarter, compared to analyst estimates of $0.17 million. Equities analysts anticipate that Shattuck Labs will post -1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Orbimed Advisors LLC purchased a new position in shares of Shattuck Labs during the third quarter worth $15,072,000. NEXTBio Capital Management LP acquired a new position in Shattuck Labs during the 4th quarter worth about $11,497,000. Price T Rowe Associates Inc. MD acquired a new position in Shattuck Labs during the 4th quarter worth about $7,031,000. Pinnacle Associates Ltd. boosted its holdings in Shattuck Labs by 1.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,388,723 shares of the company’s stock valued at $3,319,000 after acquiring an additional 25,000 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new position in Shattuck Labs in the 4th quarter valued at about $4,945,000. 58.74% of the stock is currently owned by institutional investors and hedge funds.

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.