Shattuck Labs (NASDAQ:STTK) Price Target Raised to $8.00 at Wedbush

Shattuck Labs (NASDAQ:STTK) had its price target hoisted by research analysts at Wedbush from $4.00 to $8.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 56.86% from the stock’s previous close.

Several other equities research analysts have also commented on STTK. Citigroup boosted their price objective on Shattuck Labs from $2.00 to $4.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 6th. Piper Sandler began coverage on Shattuck Labs in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $15.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shattuck Labs in a research report on Thursday, January 22nd. Finally, HC Wainwright upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Monday, December 1st. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.00.

Shattuck Labs Stock Performance

Shattuck Labs stock opened at $5.10 on Friday. The stock has a market capitalization of $322.73 million, a P/E ratio of -5.00 and a beta of 1.55. The company’s fifty day moving average price is $4.12 and its 200 day moving average price is $2.79. Shattuck Labs has a 1 year low of $0.69 and a 1 year high of $5.20.

Shattuck Labs (NASDAQ:STTK) last announced its earnings results on Thursday, March 5th. The company reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of ($1.00) million for the quarter. Sell-side analysts predict that Shattuck Labs will post -1.48 EPS for the current year.

Hedge Funds Weigh In On Shattuck Labs

A number of institutional investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd purchased a new stake in Shattuck Labs in the 2nd quarter valued at $98,000. Geode Capital Management LLC boosted its position in shares of Shattuck Labs by 32.1% during the 4th quarter. Geode Capital Management LLC now owns 618,277 shares of the company’s stock valued at $2,258,000 after acquiring an additional 150,318 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of Shattuck Labs during the 4th quarter valued at about $1,849,000. TD Asset Management Inc purchased a new stake in shares of Shattuck Labs in the fourth quarter valued at about $916,000. Finally, Goldman Sachs Group Inc. increased its position in Shattuck Labs by 662.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 128,165 shares of the company’s stock worth $468,000 after purchasing an additional 111,365 shares during the last quarter. Hedge funds and other 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.