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

Shares of Shattuck Labs, Inc. (NASDAQ:STTK) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.00.

A number of research firms have issued reports on STTK. Needham & Company LLC started coverage on shares of Shattuck Labs in a research report on Friday. They set a “buy” rating and a $25.00 price target for the company. HC Wainwright raised shares of 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. Citigroup increased their price objective on shares of Shattuck Labs from $2.00 to $4.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Shattuck Labs in a report on Thursday, January 22nd. Finally, TD Cowen restated a “buy” rating on shares of Shattuck Labs in a research report on Friday.

Hedge Funds Weigh In On Shattuck Labs

Institutional investors have recently modified their holdings of the stock. Orbimed Advisors LLC purchased a new stake in shares of Shattuck Labs in the third quarter worth about $15,072,000. NEXTBio Capital Management LP acquired a new stake in Shattuck Labs during the fourth quarter worth about $11,497,000. Price T Rowe Associates Inc. MD purchased a new position in Shattuck Labs during the fourth quarter valued at approximately $7,031,000. T. Rowe Price Investment Management Inc. purchased a new position in Shattuck Labs during the fourth quarter valued at approximately $4,945,000. Finally, Bank of America Corp DE lifted its holdings in Shattuck Labs by 2,968.2% in the third quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock valued at $2,705,000 after acquiring an additional 1,094,997 shares during the period. Hedge funds and other institutional investors own 58.74% of the company’s stock.

Shattuck Labs Stock Performance

Shattuck Labs stock opened at $5.99 on Monday. The business’s 50-day simple moving average is $4.17 and its two-hundred day simple moving average is $2.85. The company has a market cap of $379.05 million, a PE ratio of -7.78 and a beta of 1.55. Shattuck Labs has a fifty-two week low of $0.69 and a fifty-two week high of $6.00.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). The firm had revenue of ($1.00) million during the quarter, compared to analysts’ expectations of $0.17 million. As a group, analysts predict that Shattuck Labs will post -1.48 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.