Shattuck Labs (NASDAQ:STTK) Raised to Strong-Buy at Raymond James Financial

Shattuck Labs (NASDAQ:STTK) was upgraded by investment analysts at Raymond James Financial to a “strong-buy” rating in a report issued on Monday, Marketbeat Ratings reports. The brokerage currently has a $18.00 target price on the stock. Raymond James Financial’s price objective would suggest a potential upside of 123.33% from the company’s current price.

A number of other analysts have also issued reports on the stock. Wedbush increased their price target on shares of Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Citigroup raised Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Friday, June 5th. Jefferies Financial Group upgraded shares of Shattuck Labs to an “outperform” rating and set a $7.00 price target on the stock in a report on Friday, June 5th. HC Wainwright lowered their target price on shares of Shattuck Labs from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Finally, Wall Street Zen lowered Shattuck Labs from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Shattuck Labs presently has an average rating of “Buy” and a consensus price target of $12.78.

Shattuck Labs Price Performance

Shares of NASDAQ:STTK opened at $8.06 on Monday. The stock’s 50 day moving average price is $6.89 and its 200 day moving average price is $6.15. The stock has a market cap of $808.90 million, a price-to-earnings ratio of -15.80 and a beta of 1.08. Shattuck Labs has a 12 month low of $0.92 and a 12 month high of $8.33.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). On average, sell-side analysts expect that Shattuck Labs will post -0.43 EPS for the current year.

Insider Buying and Selling

In other Shattuck Labs news, Director Clay B. Siegall bought 62,500 shares of Shattuck Labs stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average cost of $4.00 per share, with a total value of $250,000.00. Following the acquisition, the director directly owned 318,608 shares of the company’s stock, valued at $1,274,432. The trade was a 24.40% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Abhinav A. Shukla sold 23,365 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total value of $165,424.20. Following the completion of the sale, the insider owned 86,380 shares of the company’s stock, valued at approximately $611,570.40. This trade represents a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 53,875 shares of company stock worth $379,305 in the last quarter. 8.79% of the stock is owned by corporate insiders.

Institutional Trading of Shattuck Labs

Hedge funds have recently modified their holdings of the stock. Orbimed Advisors LLC bought a new position in Shattuck Labs in the 3rd quarter worth approximately $15,072,000. BlackRock Inc. acquired a new position in shares of Shattuck Labs during the second quarter valued at $27,315,000. Frazier Life Sciences Management L.P. bought a new position in Shattuck Labs in the second quarter valued at about $26,025,000. NEXTBio Capital Management LP bought a new stake in Shattuck Labs during the 4th quarter worth about $11,497,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Shattuck Labs during the 4th quarter valued at about $7,031,000. 58.74% of the stock is owned by institutional investors.

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.