Shattuck Labs (NASDAQ:STTK) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Shattuck Labs (NASDAQ:STTK) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Other research analysts have also issued research reports about the stock. Citigroup upgraded shares of 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, June 5th. Needham & Company LLC increased their price target on Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, June 8th. HC Wainwright cut their price objective on Shattuck Labs from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Cantor Fitzgerald began coverage on Shattuck Labs in a research report on Monday, April 27th. They issued an “overweight” rating for the company. Finally, Jefferies Financial Group upgraded Shattuck Labs to an “outperform” rating and set a $7.00 target price for the company in a research note on Friday, June 5th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.12.

Shattuck Labs Stock Up 1.4%

NASDAQ:STTK opened at $7.42 on Friday. The company has a market cap of $568.97 million, a P/E ratio of -14.55 and a beta of 1.08. Shattuck Labs has a fifty-two week low of $0.79 and a fifty-two week high of $8.33. The firm’s 50 day moving average is $6.43 and its two-hundred day moving average is $5.95.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). Research analysts forecast that Shattuck Labs will post -0.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Arundathy N. Pandite sold 30,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.01, for a total value of $210,300.00. Following the completion of the sale, the insider owned 136,219 shares of the company’s stock, valued at approximately $954,895.19. The trade was a 18.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Clay B. Siegall bought 62,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $4.00 per share, with a total value of $250,000.00. Following the transaction, the director directly owned 318,608 shares in the company, valued at approximately $1,274,432. The trade was a 24.40% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 53,875 shares of company stock valued at $379,305 in the last ninety days. Corporate insiders own 8.79% of the company’s stock.

Institutional Trading of Shattuck Labs

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC bought a new position in Shattuck Labs during the 2nd quarter worth approximately $312,000. Legal & General Group Plc bought a new position in Shattuck Labs during the second quarter worth $41,000. The Manufacturers Life Insurance Company bought a new position in Shattuck Labs during the second quarter worth $1,576,000. Algert Global LLC raised its holdings in shares of Shattuck Labs by 47.2% during the second quarter. Algert Global LLC now owns 421,187 shares of the company’s stock worth $2,923,000 after purchasing an additional 135,115 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Shattuck Labs in the 2nd quarter worth about $1,988,000. 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.