Shattuck Labs (NASDAQ:STTK) Coverage Initiated by Analysts at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald initiated coverage on Shattuck Labs with an "overweight" rating; overall analyst sentiment is positive with seven Buys, one Hold and one Sell and a consensus target of $12.50 (average rating: Moderate Buy).
• The stock opened at $7.74 with a market cap of about $585 million, a 50-day/200-day moving average of $5.93/$4.04, and a 12‑month range of $0.71 to $8.33.
• Shattuck Labs is a clinical‑stage biotech developing an immunotherapeutic vaccine targeting fentanyl; it reported Q1 EPS of -$0.12 (in line with estimates) but missed revenue expectations, and analysts forecast roughly -$0.50 EPS for the current year.

Analysts at Cantor Fitzgerald initiated coverage on shares of Shattuck Labs (NASDAQ:STTK - Get Free Report) in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm set an "overweight" rating on the stock.

Other research analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Shattuck Labs from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. HC Wainwright increased their target price on Shattuck Labs from $6.00 to $18.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Needham & Company LLC assumed coverage on Shattuck Labs in a research report on Friday, March 6th. They set a "buy" rating and a $25.00 price target on the stock. Piper Sandler started coverage on Shattuck Labs in a research note on Wednesday, January 28th. They set an "overweight" rating and a $15.00 price objective on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Shattuck Labs in a research note on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.50.

Shattuck Labs Price Performance

Shares of STTK opened at $7.74 on Monday. The stock's 50-day moving average is $5.93 and its two-hundred day moving average is $4.04. The stock has a market cap of $584.99 million, a PE ratio of -10.05 and a beta of 1.28. Shattuck Labs has a 12 month low of $0.71 and a 12 month high of $8.33.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last posted 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 company had revenue of ($1.00) million during the quarter, compared to analyst estimates of $0.17 million. On average, research analysts anticipate that Shattuck Labs will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On Shattuck Labs

Hedge funds have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC bought a new position in shares of Shattuck Labs during the third quarter worth about $15,072,000. NEXTBio Capital Management LP acquired a new position in Shattuck Labs during the 4th quarter worth $11,497,000. Price T Rowe Associates Inc. MD bought a new position in Shattuck Labs in the 4th quarter valued at about $7,031,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Shattuck Labs in the fourth quarter valued at approximately $4,945,000. Finally, Bank of America Corp DE boosted its stake in Shattuck Labs by 2,968.2% during the 3rd quarter. Bank of America Corp DE now owns 1,131,888 shares of the company's stock valued at $2,705,000 after purchasing an additional 1,094,997 shares in the last quarter. 58.74% of the stock is currently 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.

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