Shattuck Labs (NASDAQ:STTK) Coverage Initiated by Analysts at Wedbush

Investment analysts at Wedbush started coverage on shares of Shattuck Labs (NASDAQ:STTK) in a report issued on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $4.00 price target on the stock. Wedbush’s price target suggests a potential upside of 142.57% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Shattuck Labs to a “hold” rating in a research report on Friday. Needham & Company LLC restated a “hold” rating on shares of Shattuck Labs in a report on Thursday, August 14th. Finally, Leerink Partners reduced their target price on shares of Shattuck Labs from $4.00 to $2.00 and set an “outperform” rating for the company in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4.00.

Shattuck Labs Stock Up 6.4%

Shares of STTK opened at $1.65 on Monday. The company’s fifty day moving average is $0.89 and its 200-day moving average is $1.00. The firm has a market cap of $78.99 million, a price-to-earnings ratio of -1.36 and a beta of 1.64. Shattuck Labs has a 12 month low of $0.69 and a 12 month high of $3.95.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.01. As a group, research analysts predict that Shattuck Labs will post -1.48 earnings per share for the current fiscal year.

Insider Activity at Shattuck Labs

In related news, Director Orbimed Advisors Llc acquired 6,306,127 shares of the stock in a transaction dated Monday, August 25th. The stock was acquired at an average cost of $0.87 per share, with a total value of $5,486,330.49. Following the purchase, the director directly owned 5,255,106 shares of the company’s stock, valued at approximately $4,571,942.22. This trade represents a -600.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mona Ashiya purchased 6,306,127 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was bought at an average price of $0.87 per share, for a total transaction of $5,486,330.49. Following the completion of the acquisition, the director directly owned 5,255,106 shares in the company, valued at approximately $4,571,942.22. This trade represents a -600.00% increase in their position. The disclosure for this purchase can be found here. Company insiders own 12.00% of the company’s stock.

Institutional Trading of Shattuck Labs

Hedge funds and other institutional investors have recently bought and sold shares of the business. Prosight Management LP grew its holdings in shares of Shattuck Labs by 15.1% during the fourth quarter. Prosight Management LP now owns 6,638,935 shares of the company’s stock worth $8,033,000 after buying an additional 873,409 shares during the last quarter. Jane Street Group LLC lifted its position in Shattuck Labs by 2,510.8% in the second quarter. Jane Street Group LLC now owns 289,671 shares of the company’s stock valued at $229,000 after purchasing an additional 278,576 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Shattuck Labs during the 2nd quarter valued at approximately $98,000. Bank of America Corp DE lifted its position in shares of Shattuck Labs by 135.0% during the 4th quarter. Bank of America Corp DE now owns 187,089 shares of the company’s stock valued at $226,000 after acquiring an additional 107,491 shares during the period. Finally, ADAR1 Capital Management LLC acquired a new stake in shares of Shattuck Labs during the 1st quarter valued at approximately $97,000. 58.74% of the stock is currently owned by institutional investors and hedge funds.

About Shattuck Labs

Shattuck Labs, Inc, a clinical-stage biotechnology company, develops therapeutics for the treatment of cancer and autoimmune disease in the United States. The company's lead product candidate is SL-172154, which is in Phase 1 clinical trial for the treatment of ovarian, fallopian tube, and peritoneal cancers.