HC Wainwright Lowers Shattuck Labs (NASDAQ:STTK) Price Target to $14.00

Shattuck Labs (NASDAQ:STTK) had its price objective reduced by equities researchers at HC Wainwright from $18.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 93.64% from the company’s previous close.

A number of other research firms also recently commented on STTK. Wall Street Zen upgraded shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Leerink Partners assumed coverage on Shattuck Labs in a research note on Monday, July 20th. They issued an “outperform” rating and a $16.00 price target for the company. Cantor Fitzgerald assumed coverage on Shattuck Labs in a report on Monday, April 27th. They issued an “overweight” rating for the company. Citigroup raised Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Friday, June 5th. Finally, Jefferies Financial Group upgraded Shattuck Labs to an “outperform” rating and set a $7.00 price target for the company in a report on Friday, June 5th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.12.

Shattuck Labs Stock Performance

Shattuck Labs stock traded up $0.09 during trading on Tuesday, reaching $7.23. The company had a trading volume of 492,125 shares, compared to its average volume of 896,052. Shattuck Labs has a 12-month low of $0.71 and a 12-month high of $8.33. The stock’s 50 day moving average price is $6.22 and its two-hundred day moving average price is $5.88. The firm has a market capitalization of $554.40 million, a price-to-earnings ratio of -11.41 and a beta of 1.08.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). As a group, research analysts expect that Shattuck Labs will post -0.5 earnings per share for the current year.

Insiders Place Their Bets

In other Shattuck Labs news, Director Clay B. Siegall bought 62,500 shares of the business’s stock in a transaction that occurred 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 purchase, the director directly 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 purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Arundathy N. Pandite sold 30,000 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.01, for a total value of $210,300.00. Following the sale, the insider owned 136,219 shares of the company’s stock, valued at $954,895.19. This trade represents a 18.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 53,875 shares of company stock worth $379,305. 8.79% of the stock is owned by corporate insiders.

Institutional Trading of Shattuck Labs

Several large investors have recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp lifted its stake in Shattuck Labs by 25.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock worth $214,000 after acquiring an additional 6,800 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Shattuck Labs by 5.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock valued at $915,000 after acquiring an additional 7,244 shares in the last quarter. Virtu Financial LLC purchased a new position in Shattuck Labs during the 3rd quarter valued at about $38,000. Squarepoint Ops LLC acquired a new position in shares of Shattuck Labs in the 3rd quarter valued at about $46,000. Finally, State of Wyoming acquired a new position in shares of Shattuck Labs in the 2nd quarter valued at about $151,000. 58.74% of the stock is owned by institutional investors and hedge funds.

About Shattuck Labs

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.