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

Key Points

• Wedbush has initiated coverage on Shattuck Labs (NASDAQ:STTK) with an "outperform" rating and a target price of $4.00, indicating a potential upside of 142.57% from its previous close.
• The company has a consensus rating of "Moderate Buy" and an average price target of $4.00 based on recent ratings from various analysts.
• Shattuck Labs reported an earnings per share (EPS) of ($0.24), surpassing analysts' expectations, and is focused on developing therapeutics for cancer and autoimmune diseases.

Research analysts at Wedbush assumed coverage on shares of Shattuck Labs (NASDAQ:STTK - Get Free Report) in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm set an "outperform" rating and a $4.00 price target on the stock. Wedbush's target price would indicate a potential upside of 142.57% from the stock's previous close.

STTK has been the topic of a number of other reports. Wall Street Zen raised shares of Shattuck Labs to a "hold" rating in a research note on Friday. Needham & Company LLC reissued a "hold" rating on shares of Shattuck Labs in a report on Thursday, August 14th. Finally, Leerink Partners reduced their price target on Shattuck Labs from $4.00 to $2.00 and set an "outperform" rating for the company in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $4.00.

Shattuck Labs Trading Up 6.4%

Shattuck Labs stock opened at $1.65 on Monday. The firm has a 50-day moving average of $0.89 and a 200-day moving average of $1.00. Shattuck Labs has a 1-year low of $0.69 and a 1-year high of $3.95. The firm has a market cap of $78.99 million, a P/E ratio of -1.36 and a beta of 1.64.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.01. Research analysts forecast that Shattuck Labs will post -1.48 earnings per share for the current fiscal year.

Insider Transactions at Shattuck Labs

In other news, Director Mona Ashiya acquired 6,306,127 shares of the company's stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $0.87 per share, with a total value of $5,486,330.49. Following the completion of the purchase, the director directly owned 5,255,106 shares in the company, valued at $4,571,942.22. This trade represents a -600.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Orbimed Advisors Llc acquired 6,306,127 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were acquired at an average price of $0.87 per share, with a total value of $5,486,330.49. Following the acquisition, the director owned 5,255,106 shares in the company, valued at approximately $4,571,942.22. The trade was a -600.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 12.00% of the company's stock.

Institutional Trading of Shattuck Labs

Several institutional investors have recently made changes to their positions in STTK. Bridgeway Capital Management LLC grew its stake in shares of Shattuck Labs by 147.5% in the second quarter. Bridgeway Capital Management LLC now owns 92,300 shares of the company's stock worth $73,000 after acquiring an additional 55,000 shares in the last quarter. 683 Capital Management LLC increased its holdings in Shattuck Labs by 4.3% in the second quarter. 683 Capital Management LLC now owns 1,095,000 shares of the company's stock valued at $867,000 after buying an additional 45,000 shares in the last quarter. Jane Street Group LLC grew its position in shares of Shattuck Labs by 2,510.8% in the second quarter. Jane Street Group LLC now owns 289,671 shares of the company's stock valued at $229,000 after purchasing an additional 278,576 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Shattuck Labs during the second quarter worth approximately $44,000. Finally, Pinnacle Associates Ltd. raised its stake in Shattuck Labs by 4.9% during the second quarter. Pinnacle Associates Ltd. now owns 1,363,723 shares of the company's stock worth $1,080,000 after purchasing an additional 64,000 shares during the period. Hedge funds and other institutional investors own 58.74% of the company's stock.

About Shattuck Labs

Shattuck Labs, Inc, a clinical-stage biotechnology company, develops therapeutics for the treatment of cancer and autoimmune disease in the United States. The company's lead product candidate is SL-172154, which is in Phase 1 clinical trial for the treatment of ovarian, fallopian tube, and peritoneal cancers.

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