Shattuck Labs, Inc. (NASDAQ:STTK) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Shattuck Labs, Inc. (NASDAQ:STTK) have received an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.6250.

Several brokerages have recently weighed in on STTK. Cantor Fitzgerald began coverage on Shattuck Labs in a research note on Monday, April 27th. They set an “overweight” rating for the company. Wall Street Zen upgraded Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Needham & Company LLC increased their price target on Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, June 8th. Wedbush raised their price objective on Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Leerink Partners started coverage on Shattuck Labs in a report on Monday, July 20th. They set an “outperform” rating and a $16.00 price objective on the stock.

Insider Activity

In related news, insider Abhinav A. Shukla sold 23,365 shares of Shattuck Labs stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total value of $165,424.20. Following the completion of the sale, the insider owned 86,380 shares in the company, valued at approximately $611,570.40. The trade was a 21.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Arundathy N. Pandite sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $6.61, for a total transaction of $198,300.00. Following the completion of the sale, the insider directly owned 166,219 shares in the company, valued at $1,098,707.59. This represents a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 85,907 shares of company stock worth $591,850. 8.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Shattuck Labs

Hedge funds and other institutional investors have recently modified their holdings of the stock. OMERS ADMINISTRATION Corp raised its holdings in shares of Shattuck Labs by 25.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock worth $214,000 after purchasing an additional 6,800 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Shattuck Labs by 5.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock valued at $915,000 after buying an additional 7,244 shares during the period. Virtu Financial LLC bought a new stake in shares of Shattuck Labs during the 3rd quarter valued at about $38,000. Squarepoint Ops LLC bought a new stake in shares of Shattuck Labs during the 3rd quarter valued at about $46,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Shattuck Labs during the fourth quarter worth about $85,000. Institutional investors own 58.74% of the company’s stock.

Shattuck Labs Trading Down 6.9%

NASDAQ STTK opened at $7.37 on Thursday. The company’s fifty day simple moving average is $6.14 and its 200-day simple moving average is $5.82. Shattuck Labs has a 52 week low of $0.71 and a 52 week high of $8.33. The stock has a market cap of $565.14 million, a P/E ratio of -11.70 and a beta of 1.08.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. During the same quarter last year, the business earned ($0.27) EPS. On average, research analysts expect that Shattuck Labs will post -0.5 EPS for the current fiscal year.

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.