Wedbush Raises Shattuck Labs (NASDAQ:STTK) Price Target to $8.00

Shattuck Labs (NASDAQ:STTK) had its target price hoisted by research analysts at Wedbush from $4.00 to $8.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 56.86% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Piper Sandler initiated coverage on shares of Shattuck Labs in a research note on Wednesday, January 28th. They set an “overweight” rating and a $15.00 target price for the company. Citigroup upped their price objective on shares of Shattuck Labs from $2.00 to $4.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. HC Wainwright raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Monday, December 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Shattuck Labs in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Shattuck Labs presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Shattuck Labs Stock Performance

STTK opened at $5.10 on Friday. The stock has a market capitalization of $322.73 million, a PE ratio of -5.00 and a beta of 1.55. Shattuck Labs has a one year low of $0.69 and a one year high of $5.20. The business’s 50 day moving average price is $4.12 and its 200 day moving average price is $2.79.

Shattuck Labs (NASDAQ:STTK) last posted its earnings results on Thursday, March 5th. The company reported ($0.12) EPS for the quarter. The business had revenue of ($1.00) million during the quarter. As a group, equities research analysts forecast that Shattuck Labs will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC acquired a new stake in Shattuck Labs during the 3rd quarter worth approximately $29,000. Virtu Financial LLC purchased a new stake in shares of Shattuck Labs during the third quarter worth $38,000. AQR Capital Management LLC raised its stake in shares of Shattuck Labs by 265.4% in the first quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock valued at $41,000 after acquiring an additional 31,355 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Shattuck Labs in the second quarter valued at $44,000. Finally, Squarepoint Ops LLC acquired a new position in Shattuck Labs during the 3rd quarter worth $46,000. Hedge funds and other institutional investors 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.