Shattuck Labs, Inc. (NASDAQ:STTK) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Analyst sentiment is broadly positive: Twelve brokerages give Shattuck Labs an average “Buy” rating, with a consensus 12-month price target of $12.78 versus the reported share price of $6.31.
• Institutional ownership has increased: Major investors including BlackRock, Frazier Life Sciences Management, Wellington Management and others recently established positions; institutions and hedge funds collectively own 58.74% of the stock.
• Insiders sold shares while the company remains unprofitable: Insiders sold 53,875 shares worth $379,305 in the last quarter, and Shattuck reported a quarterly loss of $0.12 per share, matching estimates. Analysts expect a full-year loss of $0.45 per share.

Shares of Shattuck Labs, Inc. (NASDAQ:STTK - Get Free Report) have received an average rating of "Buy" from the twelve brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $12.78.

Several equities analysts have commented on STTK shares. JPMorgan Chase & Co. started coverage on shares of Shattuck Labs in a research note on Friday, July 24th. They set an "overweight" rating and a $10.00 target price on the stock. 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 research note on Monday, June 8th. Jefferies Financial Group raised Shattuck Labs to an "outperform" rating and set a $7.00 price objective on the stock in a research note on Friday, June 5th. Wall Street Zen cut Shattuck Labs from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, HC Wainwright cut their price target on shares of Shattuck Labs from $18.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, August 11th.

Insiders Place Their Bets

In other Shattuck Labs news, insider Arundathy Pandite sold 30,000 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.01, for a total transaction of $210,300.00. Following the completion of the transaction, the insider owned 136,219 shares of the company's stock, valued at $954,895.19. The trade was a 18.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Abhinav Shukla sold 23,365 shares of Shattuck Labs stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total value of $165,424.20. Following the completion of the transaction, the insider directly owned 86,380 shares in the company, valued at approximately $611,570.40. This 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 have sold 53,875 shares of company stock worth $379,305 in the last quarter. 8.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shattuck Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of STTK. BlackRock Inc. bought a new position in shares of Shattuck Labs during the 2nd quarter valued at about $27,315,000. Frazier Life Sciences Management L.P. acquired a new stake in Shattuck Labs during the 2nd quarter worth approximately $26,025,000. NEXTBio Capital Management LP acquired a new stake in Shattuck Labs during the 4th quarter worth approximately $11,497,000. Wellington Management Group LLP bought a new position in Shattuck Labs in the second quarter valued at approximately $12,269,000. Finally, S&G Foundation bought a new position in Shattuck Labs in the second quarter valued at approximately $3,024,000. 58.74% of the stock is owned by institutional investors and hedge funds.

Shattuck Labs Price Performance

Shattuck Labs stock opened at $6.31 on Friday. Shattuck Labs has a 12-month low of $1.70 and a 12-month high of $8.33. The company has a market capitalization of $633.27 million, a price-to-earnings ratio of -12.37 and a beta of 1.09. The firm's fifty day moving average price is $6.98 and its 200 day moving average price is $6.52.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last announced 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). Analysts forecast that Shattuck Labs will post -0.45 earnings per share for the current fiscal year.

About Shattuck Labs

Shattuck Labs, Inc is a clinical-stage biotechnology company focused on developing novel immunotherapies for cancer and other serious diseases. The company's research is based on its Agonist Redirected Checkpoint (ARC) platform, which is designed to create bifunctional fusion proteins that combine immune-cell activation with the targeted blocking of immune-suppressive pathways.

Shattuck's lead investigational programs are intended to stimulate antitumor immune responses within the tumor microenvironment.

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