Leerink Partners Begins Coverage on Shattuck Labs (NASDAQ:STTK)

Analysts at Leerink Partners initiated coverage on shares of Shattuck Labs (NASDAQ:STTK) in a report issued on Monday, Marketbeat reports. The firm set an “outperform” rating and a $16.00 price target on the stock. Leerink Partners’ price target would indicate a potential upside of 112.48% from the company’s previous close.

STTK has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Shattuck Labs in a report on Monday, June 8th. Citigroup raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Friday, June 5th. Needham & Company LLC boosted their target price on shares of Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Cantor Fitzgerald assumed coverage on shares of Shattuck Labs in a research report on Monday, April 27th. They set an “overweight” rating for the company. Finally, Weiss Ratings raised shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.00.

Shattuck Labs Stock Performance

Shares of STTK opened at $7.53 on Monday. Shattuck Labs has a 12 month low of $0.71 and a 12 month high of $8.33. The stock’s 50 day moving average is $5.92 and its two-hundred day moving average is $5.55. The firm has a market cap of $577.40 million, a P/E ratio of -11.95 and a beta of 1.05.

Shattuck Labs (NASDAQ:STTK) last announced its earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. During the same period last year, the company earned ($0.27) EPS. Equities research analysts forecast that Shattuck Labs will post -0.51 EPS for the current year.

Insider Activity at Shattuck Labs

In other Shattuck Labs news, Director Clay B. Siegall bought 62,500 shares of the stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $4.00 per share, with a total value of $250,000.00. Following the purchase, the director directly owned 318,608 shares in the company, valued at $1,274,432. This trade represents a 24.40% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Abhinav A. Shukla sold 23,365 shares of the company’s stock in a transaction on 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 directly owned 86,380 shares of the company’s stock, valued at $611,570.40. The trade was a 21.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders 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

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in Shattuck Labs during the third quarter worth about $38,000. AQR Capital Management LLC lifted its stake in Shattuck Labs by 265.4% in 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 purchased a new position in Shattuck Labs in the 2nd quarter worth approximately $44,000. Squarepoint Ops LLC acquired a new position in shares of Shattuck Labs during the 3rd quarter worth approximately $46,000. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Shattuck Labs by 147.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 92,300 shares of the company’s stock worth $73,000 after purchasing an additional 55,000 shares during the last quarter. 58.74% of the stock is currently owned by institutional investors and hedge funds.

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.