Needham & Company LLC Issues Positive Forecast for Shattuck Labs (NASDAQ:STTK) Stock Price

Shattuck Labs (NASDAQ:STTK) had its price objective increased by investment analysts at Needham & Company LLC from $14.00 to $17.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 345.03% from the stock’s previous close.

A number of other analysts also recently weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of Shattuck Labs in a research report on Monday, April 27th. They set an “overweight” rating for the company. Weiss Ratings downgraded shares of Shattuck Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Wall Street Zen downgraded shares of Shattuck Labs from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. TD Cowen reissued a “buy” rating on shares of Shattuck Labs in a research report on Friday, March 6th. Finally, Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Shattuck Labs Stock Performance

Shares of Shattuck Labs stock traded down $0.76 on Monday, hitting $3.82. The stock had a trading volume of 4,163,183 shares, compared to its average volume of 648,843. The stock has a 50 day moving average of $6.54 and a 200 day moving average of $4.88. Shattuck Labs has a twelve month low of $0.71 and a twelve month high of $8.33. The firm has a market capitalization of $292.92 million, a P/E ratio of -6.10 and a beta of 1.08.

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, beating the consensus estimate of ($0.14) by $0.01. During the same period last year, the company posted ($0.27) earnings per share. Equities analysts expect that Shattuck Labs will post -0.51 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Arundathy N. Pandite sold 30,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $6.61, for a total value of $198,300.00. Following the completion of the sale, the insider directly owned 166,219 shares of the company’s stock, valued at approximately $1,098,707.59. This represents a 15.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 8.79% of the company’s stock.

Institutional Investors Weigh In On Shattuck Labs

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Orbimed Advisors LLC purchased a new stake in Shattuck Labs in the 3rd quarter valued at $15,072,000. NEXTBio Capital Management LP purchased a new stake in shares of Shattuck Labs during the 4th quarter valued at $11,497,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Shattuck Labs during the 4th quarter valued at $7,031,000. Pinnacle Associates Ltd. increased its position in shares of Shattuck Labs by 1.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,388,723 shares of the company’s stock valued at $3,319,000 after purchasing an additional 25,000 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of Shattuck Labs during the 4th quarter valued at $4,945,000. 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.