Shattuck Labs, Inc. (NASDAQ:STTK) Receives Consensus Recommendation of “Buy” from Brokerages

Shattuck Labs, Inc. (NASDAQ:STTK) has earned a consensus rating of “Buy” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $12.78.

Several research firms have commented on STTK. Leerink Partners began coverage on shares of Shattuck Labs in a report on Monday, July 20th. They issued an “outperform” rating and a $16.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Shattuck Labs in a research note on Friday, September 11th. Needham & Company LLC lifted their price objective on Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, June 8th. Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 target price on the stock in a report on Friday, June 5th. Finally, Wall Street Zen cut Shattuck Labs from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th.

Shattuck Labs Stock Down 0.8%

NASDAQ STTK opened at $6.31 on Friday. Shattuck Labs has a 12-month low of $1.70 and a 12-month high of $8.33. The company has a market capitalization of $633.27 million, a PE ratio of -12.37 and a beta of 1.09. The firm’s 50 day moving average is $6.98 and its 200-day moving average is $6.52.

Shattuck Labs (NASDAQ:STTK) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). As a group, sell-side analysts expect that Shattuck Labs will post -0.45 EPS for the current year.

Insider Buying and Selling at Shattuck Labs

In related news, insider Abhinav Shukla sold 23,365 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total value of $165,424.20. Following the sale, the insider directly owned 86,380 shares of the company’s stock, valued at $611,570.40. This trade represents a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Arundathy Pandite sold 30,000 shares of Shattuck Labs stock in a transaction that occurred 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. This trade represents a 18.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 53,875 shares of company stock valued at $379,305. 8.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new stake in shares of Shattuck Labs in the second quarter valued at about $41,000. State of Wyoming bought a new position in Shattuck Labs during the second quarter worth $151,000. OMERS ADMINISTRATION Corp boosted its position in 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 during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Shattuck Labs in the 1st quarter valued at about $269,000. Finally, Bank of America Corp DE acquired a new stake in Shattuck Labs during the second quarter worth approximately $319,000. 58.74% of the stock is owned by institutional investors.

Shattuck Labs Company Profile

Shattuck Labs, Inc is a clinical-stage biotechnology company focused on developing novel immunotherapies for cancer and other serious diseases. The company’s research is based on its Agonist Redirected Checkpoint (ARC) platform, which is designed to create bifunctional fusion proteins that combine immune-cell activation with the targeted blocking of immune-suppressive pathways.

Shattuck’s lead investigational programs are intended to stimulate antitumor immune responses within the tumor microenvironment.