Shattuck Labs (NASDAQ:STTK) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Shattuck Labs (NASDAQ:STTK) from a buy rating to a hold rating in a report issued on Saturday morning.

Other research analysts also recently issued reports about the company. Jefferies Financial Group upgraded Shattuck Labs to an “outperform” rating and set a $7.00 price target for the company in a research note on Friday, June 5th. Leerink Partners started coverage on shares of Shattuck Labs in a report on Monday, July 20th. They set an “outperform” rating and a $16.00 target price on the stock. Wedbush increased their price target on shares of Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Finally, Citigroup upgraded shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Friday, June 5th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.12.

Shattuck Labs Price Performance

Shattuck Labs stock opened at $7.39 on Friday. The company has a market cap of $566.67 million, a price-to-earnings ratio of -14.49 and a beta of 1.08. The firm has a 50-day moving average of $6.50 and a 200-day moving average of $5.99. Shattuck Labs has a one year low of $0.79 and a one year high of $8.33.

Shattuck Labs (NASDAQ:STTK) last released its earnings results on Tuesday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). As a group, sell-side analysts expect that Shattuck Labs will post -0.43 earnings per share for the current year.

Insider Buying and Selling at Shattuck Labs

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of STTK. AQR Capital Management LLC grew its stake in shares of Shattuck Labs by 265.4% during the first quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock worth $41,000 after buying an additional 31,355 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Shattuck Labs in the 1st quarter valued at $81,000. Acadian Asset Management LLC boosted its holdings in shares of Shattuck Labs by 27.6% during the 1st quarter. Acadian Asset Management LLC now owns 257,345 shares of the company’s stock valued at $243,000 after acquiring an additional 55,687 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Shattuck Labs during the 2nd quarter valued at $44,000. Finally, Jane Street Group LLC boosted its holdings in shares of Shattuck Labs by 2,510.8% during the 2nd quarter. Jane Street Group LLC now owns 289,671 shares of the company’s stock valued at $229,000 after acquiring an additional 278,576 shares in the last quarter. 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.