Shattuck Labs (NASDAQ:STTK) Coverage Initiated at Needham & Company LLC

Equities research analysts at Needham & Company LLC initiated coverage on shares of Shattuck Labs (NASDAQ:STTK) in a research report issued on Friday. The firm set a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 321.59% from the company’s previous close.

STTK has been the topic of several other reports. Wedbush raised their target price on shares of Shattuck Labs from $4.00 to $8.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler assumed coverage on Shattuck Labs in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $15.00 price target for the company. Citigroup raised 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. TD Cowen reaffirmed a “buy” rating on shares of Shattuck Labs in a report on Friday. Finally, HC Wainwright upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Monday, December 1st. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Shattuck Labs Stock Up 16.3%

Shares of STTK traded up $0.83 during trading hours on Friday, hitting $5.93. The company had a trading volume of 1,009,644 shares, compared to its average volume of 668,563. The business has a fifty day moving average of $4.12 and a 200-day moving average of $2.79. The firm has a market cap of $375.25 million, a price-to-earnings ratio of -5.81 and a beta of 1.55. Shattuck Labs has a 12 month low of $0.69 and a 12 month high of $6.00.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). The firm had revenue of ($1.00) million for the quarter. On average, equities analysts expect that Shattuck Labs will post -1.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC bought a new position in shares of Shattuck Labs in the third quarter worth about $29,000. Virtu Financial LLC acquired a new position in Shattuck Labs during the 3rd quarter worth approximately $38,000. AQR Capital Management LLC increased its position in Shattuck Labs by 265.4% during the 1st quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock worth $41,000 after purchasing an additional 31,355 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Shattuck Labs in the 2nd quarter valued at approximately $44,000. Finally, Squarepoint Ops LLC acquired a new stake in Shattuck Labs in the third quarter valued at approximately $46,000. 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.