HC Wainwright Cuts Shattuck Labs (NASDAQ:STTK) Price Target to $14.00

Key Points

• HC Wainwright lowered Shattuck Labs’ price target from $18 to $14 while maintaining a “buy” rating, implying roughly 94% upside from the stock’s $7.23 price. Analysts overall give the company a “Moderate Buy” consensus rating with an average target of $12.12.
• Shattuck Labs shares rose 1.3% to $7.23, compared with a 52-week range of $0.71 to $8.33. The company reported quarterly EPS of $(0.12), in line with analyst expectations.
• The clinical-stage biotech is developing immunotherapeutic vaccines for substance-use disorders, with its lead program focused on a fentanyl-targeting vaccine; institutional investors own 58.74% of its shares.

Shattuck Labs (NASDAQ:STTK - Get Free Report) had its price objective reduced by research analysts at HC Wainwright from $18.00 to $14.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective would suggest a potential upside of 93.64% from the stock's current price.

Several other research analysts have also commented on the company. Citigroup upgraded 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. Leerink Partners initiated coverage on shares of Shattuck Labs in a research report on Monday, July 20th. They set an "outperform" rating and a $16.00 price objective for the company. 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. Cantor Fitzgerald started coverage on shares of Shattuck Labs in a report on Monday, April 27th. They issued an "overweight" rating on the stock. Finally, Weiss Ratings raised shares of Shattuck Labs from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, June 16th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Shattuck Labs has an average rating of "Moderate Buy" and an average target price of $12.12.

Shattuck Labs Stock Up 1.3%

Shares of STTK stock traded up $0.09 during trading hours on Tuesday, hitting $7.23. 492,125 shares of the company's stock were exchanged, compared to its average volume of 896,052. Shattuck Labs has a fifty-two week low of $0.71 and a fifty-two week high of $8.33. The firm has a market cap of $554.40 million, a P/E ratio of -11.41 and a beta of 1.08. The firm has a 50 day moving average of $6.22 and a two-hundred day moving average of $5.88.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.12) EPS for the quarter, meeting analysts' consensus estimates of ($0.12). On average, equities analysts forecast that Shattuck Labs will post -0.5 earnings per share for the current fiscal year.

Insider Buying and Selling at Shattuck Labs

In related news, Director Clay B. Siegall acquired 62,500 shares of Shattuck Labs stock in a transaction on Tuesday, June 9th. The stock was purchased at an average cost of $4.00 per share, with a total value of $250,000.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arundathy N. Pandite sold 30,000 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $7.01, for a total value of $210,300.00. Following the sale, the insider directly owned 136,219 shares of the company's stock, valued at approximately $954,895.19. This represents a 18.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 53,875 shares of company stock worth $379,305 over the last 90 days. Corporate insiders own 8.79% of the company's stock.

Institutional Investors Weigh In On Shattuck Labs

A number of institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in shares of Shattuck Labs by 77.4% during the 1st quarter. Renaissance Technologies LLC now owns 604,500 shares of the company's stock worth $3,887,000 after purchasing an additional 263,800 shares in the last quarter. NEXTBio Capital Management LP purchased a new position in Shattuck Labs during the fourth quarter worth $11,497,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Shattuck Labs in the first quarter valued at $81,000. Dimensional Fund Advisors LP acquired a new stake in shares of Shattuck Labs during the fourth quarter valued at $85,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Shattuck Labs during the 4th quarter worth about $97,000. 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.

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