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

Shattuck Labs (NASDAQ:STTK) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other brokerages have also issued reports on STTK. HC Wainwright lowered their target price on Shattuck Labs from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. JPMorgan Chase & Co. started coverage on Shattuck Labs in a research note on Friday, July 24th. They set an “overweight” rating and a $10.00 price target for the company. Wedbush lifted their price objective on Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 price objective for the company in a report on Friday, June 5th. Finally, Needham & Company LLC upped their price objective on shares of Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, June 8th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Shattuck Labs has an average rating of “Moderate Buy” and a consensus price target of $12.12.

Shattuck Labs Price Performance

Shares of STTK stock opened at $7.42 on Friday. The company has a 50 day moving average of $6.43 and a 200-day moving average of $5.97. Shattuck Labs has a 12-month low of $0.79 and a 12-month high of $8.33. The firm has a market cap of $568.97 million, a P/E ratio of -14.55 and a beta of 1.08.

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

Insider Buying and Selling at Shattuck Labs

In other Shattuck Labs news, Director Clay B. Siegall acquired 62,500 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average price of $4.00 per share, for a total transaction of $250,000.00. Following the acquisition, the director owned 318,608 shares in the company, valued at $1,274,432. This represents a 24.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Abhinav A. Shukla sold 23,365 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was 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 of the company’s stock, valued at approximately $611,570.40. This trade represents a 21.29% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 53,875 shares of company stock worth $379,305. 8.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shattuck Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orbimed Advisors LLC bought a new stake in Shattuck Labs in the third quarter valued at $15,072,000. BlackRock Inc. purchased a new stake in shares of Shattuck Labs in the 2nd quarter worth about $27,315,000. NEXTBio Capital Management LP bought a new stake in shares of Shattuck Labs during the 4th quarter valued at about $11,497,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Shattuck Labs during the fourth quarter valued at about $7,031,000. Finally, T. Rowe Price Investment Management Inc. purchased a new position in shares of Shattuck Labs during the fourth quarter valued at about $4,945,000. Institutional investors own 58.74% of the company’s stock.

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.