Citigroup Boosts Shattuck Labs (NASDAQ:STTK) Price Target to $7.00

Shattuck Labs (NASDAQ:STTK) had its target price hoisted by analysts at Citigroup from $4.00 to $7.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 16.86% from the company’s current price.

Several other equities analysts also recently issued reports on the stock. HC Wainwright raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Monday, December 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Shattuck Labs in a research note on Thursday, January 22nd. Wedbush raised their price target on shares of Shattuck Labs from $4.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. Needham & Company LLC began coverage on Shattuck Labs in a report on Friday, March 6th. They issued a “buy” rating and a $25.00 price objective on the stock. Finally, Piper Sandler assumed coverage on Shattuck Labs in a research note on Wednesday, January 28th. They set an “overweight” rating and a $15.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.50.

Shattuck Labs Stock Down 2.3%

Shares of Shattuck Labs stock traded down $0.14 on Friday, reaching $5.99. The company’s stock had a trading volume of 354,267 shares, compared to its average volume of 687,476. The company has a market capitalization of $428.64 million, a P/E ratio of -7.78 and a beta of 1.55. The stock has a 50-day moving average price of $4.36 and a 200-day moving average price of $2.97. Shattuck Labs has a 52-week low of $0.69 and a 52-week high of $6.25.

Shattuck Labs (NASDAQ:STTK) last announced its earnings results on Thursday, March 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The business had revenue of ($1.00) million for the quarter, compared to analysts’ expectations of $0.17 million. Sell-side analysts forecast that Shattuck Labs will post -1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shattuck Labs

Several hedge funds and other institutional investors have recently modified their holdings of STTK. Turtle Creek Wealth Advisors LLC purchased a new stake in Shattuck Labs during the 3rd quarter valued at about $29,000. Virtu Financial LLC acquired a new stake in shares of Shattuck Labs in the third quarter valued at approximately $38,000. AQR Capital Management LLC increased its holdings 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 purchasing an additional 31,355 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in Shattuck Labs during the second quarter worth approximately $44,000. Finally, Squarepoint Ops LLC purchased a new position in Shattuck Labs during the third quarter worth approximately $46,000. 58.74% of the stock is owned by hedge funds and other 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.