Shattuck Labs (NASDAQ:STTK) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Shattuck Labs (NASDAQ:STTK) in a research report sent to investors on Friday morning,Benzinga reports. The brokerage issued an overweight rating and a $10.00 target price on the stock.

A number of other brokerages have also weighed in on STTK. Wall Street Zen raised shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Jefferies Financial Group upgraded shares of Shattuck Labs to an “outperform” rating and set a $7.00 price objective on the stock in a report on Friday, June 5th. Weiss Ratings raised shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Cantor Fitzgerald started coverage on shares of Shattuck Labs in a research report on Monday, April 27th. They issued an “overweight” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Shattuck Labs in a research note on Monday, June 8th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.62.

Shattuck Labs Price Performance

Shares of Shattuck Labs stock opened at $7.43 on Friday. The company has a market capitalization of $569.73 million, a P/E ratio of -11.79 and a beta of 1.05. The business has a 50-day moving average of $5.96 and a two-hundred day moving average of $5.67. Shattuck Labs has a 1 year low of $0.71 and a 1 year high of $8.33.

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

Insider Activity at Shattuck Labs

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

Institutional Investors Weigh In On Shattuck Labs

Several large investors have recently made changes to their positions in the stock. OMERS ADMINISTRATION Corp grew its stake in shares of Shattuck Labs by 25.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock valued at $214,000 after buying an additional 6,800 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Shattuck Labs by 5.4% during the first quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock worth $915,000 after acquiring an additional 7,244 shares in the last quarter. Virtu Financial LLC bought a new stake in Shattuck Labs during the third quarter worth $38,000. Squarepoint Ops LLC acquired a new stake in Shattuck Labs in the third quarter valued at $46,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Shattuck Labs in the fourth quarter valued at $85,000. Institutional investors and hedge funds 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.