Shattuck Labs (NASDAQ:STTK) Upgraded to “Strong-Buy” at TD Cowen

TD Cowen upgraded shares of Shattuck Labs (NASDAQ:STTK) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

STTK has been the subject of a number of other reports. Weiss Ratings upgraded Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Needham & Company LLC raised their price objective on Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Leerink Partners initiated coverage on Shattuck Labs in a report on Monday, July 20th. They set an “outperform” rating and a $16.00 target price on the stock. JPMorgan Chase & Co. began coverage on Shattuck Labs in a report on Friday, July 24th. They issued an “overweight” rating and a $10.00 price target for the company. Finally, Wedbush boosted their price target on Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Two investment 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 has an average rating of “Buy” and an average price target of $12.78.

Shattuck Labs Trading Up 4.9%

Shattuck Labs stock opened at $7.90 on Monday. Shattuck Labs has a 52 week low of $0.92 and a 52 week high of $8.33. The firm has a market capitalization of $792.84 million, a P/E ratio of -15.49 and a beta of 1.08. The stock has a fifty day moving average price of $6.81 and a 200 day moving average price of $6.12.

Shattuck Labs (NASDAQ:STTK) last posted its earnings results on Tuesday, August 11th. The company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12). As a group, equities analysts predict that Shattuck Labs will post -0.43 EPS for the current year.

Insider Transactions at Shattuck Labs

In other news, Director Clay B. Siegall acquired 62,500 shares of Shattuck Labs stock in a transaction on Tuesday, June 9th. The stock was acquired at an average cost of $4.00 per share, with a total value of $250,000.00. Following the completion of the acquisition, the director owned 318,608 shares in the company, valued at approximately $1,274,432. This trade represents a 24.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Arundathy N. Pandite sold 30,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.01, for a total transaction of $210,300.00. Following the sale, the insider directly owned 136,219 shares in the company, valued at $954,895.19. The trade was a 18.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,875 shares of company stock valued at $379,305 over the last ninety days. 8.79% of the stock is currently owned by insiders.

Institutional Trading of Shattuck Labs

Several hedge funds and other institutional investors have recently bought and sold shares of STTK. California State Teachers Retirement System bought a new position in Shattuck Labs in the 2nd quarter worth $41,000. Legal & General Group Plc purchased a new position in shares of Shattuck Labs during the 2nd quarter valued at $41,000. OMERS ADMINISTRATION Corp lifted its position in shares of Shattuck Labs by 25.7% in 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. The Manufacturers Life Insurance Company boosted its position in shares of Shattuck Labs by 5.4% during the first quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock worth $915,000 after acquiring an additional 7,244 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Shattuck Labs in the 3rd quarter worth approximately $38,000. 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.