Shattuck Labs (NASDAQ:STTK) Rating Increased 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 research report issued on Monday, Marketbeat reports. The firm presently has a $18.00 price objective on the stock. Raymond James Financial’s price objective would indicate a potential upside of 123.33% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Wedbush lifted their target price on shares of Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen cut Shattuck Labs from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. HC Wainwright decreased their price target on 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, TD Cowen raised shares of Shattuck Labs to a “strong-buy” rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $12.78.

Shattuck Labs Price Performance

Shattuck Labs stock opened at $8.06 on Monday. The stock has a market capitalization of $808.90 million, a P/E 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. The firm’s 50-day moving average is $6.89 and its two-hundred day moving average is $6.15.

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

Insider Activity at Shattuck Labs

In other Shattuck Labs news, Director Clay B. Siegall purchased 62,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $4.00 per share, for a total transaction of $250,000.00. Following the completion of the acquisition, the director owned 318,608 shares of the company’s stock, valued at approximately $1,274,432. This represents a 24.40% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Abhinav A. Shukla sold 23,365 shares of the business’s stock in a transaction that occurred 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 owned 86,380 shares of the company’s stock, valued at approximately $611,570.40. This represents a 21.29% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 53,875 shares of company stock worth $379,305. Company insiders own 8.79% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of STTK. Orbimed Advisors LLC purchased a new stake in shares of Shattuck Labs in the third quarter worth about $15,072,000. BlackRock Inc. acquired a new position in Shattuck Labs during the 2nd quarter worth approximately $27,315,000. Frazier Life Sciences Management L.P. acquired a new position in Shattuck Labs during the 2nd quarter worth approximately $26,025,000. NEXTBio Capital Management LP purchased a new position in Shattuck Labs in the 4th quarter worth approximately $11,497,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Shattuck Labs in the fourth quarter valued at approximately $7,031,000. Institutional investors and hedge funds own 58.74% of the company’s stock.

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.