Shattuck Labs (NASDAQ:STTK) Earns Outperform Rating from Analysts at Leerink Partners

Leerink Partners began coverage on shares of Shattuck Labs (NASDAQ:STTK) in a research report sent to investors on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $16.00 target price on the stock.

Several other equities analysts have also commented on STTK. 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. Needham & Company LLC increased their target price on shares of Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, June 8th. HC Wainwright reiterated a “buy” rating and set a $18.00 price target on shares of Shattuck Labs in a research note on Monday, June 8th. Cantor Fitzgerald assumed coverage on Shattuck Labs in a report on Monday, April 27th. They set an “overweight” rating on the stock. Finally, Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 target price for the company in a research report on Friday, June 5th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Shattuck Labs presently has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Shattuck Labs Price Performance

Shattuck Labs stock opened at $7.02 on Monday. Shattuck Labs has a 1-year low of $0.71 and a 1-year high of $8.33. The stock has a market cap of $538.29 million, a PE ratio of -11.14 and a beta of 1.05. The stock’s fifty day moving average is $5.93 and its two-hundred day moving average is $5.63.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. During the same period last year, the firm earned ($0.27) EPS. On average, research analysts expect that Shattuck Labs will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Shattuck Labs news, Director Clay B. Siegall acquired 62,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $4.00 per share, with a total value of $250,000.00. Following the purchase, the director owned 318,608 shares in the company, valued at approximately $1,274,432. The trade was a 24.40% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Abhinav A. Shukla sold 23,365 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total transaction of $165,424.20. Following the transaction, the insider owned 86,380 shares of the company’s stock, valued at $611,570.40. This trade represents a 21.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 85,907 shares of company stock worth $591,850 in the last quarter. Company insiders own 8.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of STTK. The Manufacturers Life Insurance Company lifted its stake in 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 in the last quarter. OMERS ADMINISTRATION Corp increased its position in 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 buying an additional 6,800 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Shattuck Labs by 77.4% in the first quarter. Renaissance Technologies LLC now owns 604,500 shares of the company’s stock worth $3,887,000 after acquiring an additional 263,800 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Shattuck Labs by 571.1% in the first quarter. Dimensional Fund Advisors LP now owns 155,642 shares of the company’s stock worth $1,001,000 after acquiring an additional 132,450 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of Shattuck Labs in the first quarter valued at $421,000. 58.74% of the stock is owned by hedge funds and other institutional investors.

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.