Shattuck Labs (NASDAQ:STTK) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded Shattuck Labs to “Hold” from “Buy,” though broader analyst sentiment remains favorable with a “Moderate Buy” consensus and an average price target of $12.12.
• STTK shares opened at $7.42, up 1.4%, with a market capitalization of approximately $569 million. The company reported quarterly EPS of -$0.12, in line with analyst expectations.
• Insider activity was mixed: a director purchased $250,000 of stock, while another insider sold shares to cover tax withholding obligations. Institutional investors own approximately 58.74% of the company.

Shattuck Labs (NASDAQ:STTK - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of Shattuck Labs to an "outperform" rating and set a $7.00 price target on the stock in a research report on Friday, June 5th. Needham & Company LLC increased their price objective on shares of Shattuck Labs from $14.00 to $17.00 and gave the stock a "buy" rating in a research report on Monday, June 8th. 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. Leerink Partners assumed coverage on shares of Shattuck Labs in a report on Monday, July 20th. They issued an "outperform" rating and a $16.00 target price on the stock. Finally, HC Wainwright cut their price target on shares of Shattuck Labs from $18.00 to $14.00 and set a "buy" rating on the stock in a research report on Tuesday. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Shattuck Labs currently has a consensus rating of "Moderate Buy" and an average price target of $12.12.

Shattuck Labs Trading Up 1.4%

Shares of STTK opened at $7.42 on Friday. The stock's 50-day moving average price is $6.43 and its two-hundred day moving average price is $5.95. Shattuck Labs has a 12 month low of $0.79 and a 12 month high of $8.33. The company has a market capitalization of $568.97 million, a PE ratio of -14.55 and a beta of 1.08.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.12). Equities research analysts predict that Shattuck Labs will post -0.43 EPS for the current fiscal year.

Insider Activity

In related news, Director Clay B. Siegall bought 62,500 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average price of $4.00 per share, for a total transaction of $250,000.00. Following the transaction, the director directly owned 318,608 shares of the company's stock, valued at approximately $1,274,432. The trade was a 24.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Abhinav A. Shukla sold 23,365 shares of the stock in a transaction 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 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 sold 53,875 shares of company stock worth $379,305 in the last quarter. 8.79% of the stock is owned by corporate insiders.

Institutional Trading of Shattuck Labs

Several large investors have recently made changes to their positions in STTK. Legal & General Group Plc acquired a new position in Shattuck Labs during the 2nd quarter worth approximately $41,000. OMERS ADMINISTRATION Corp grew its stake in Shattuck Labs by 25.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company's stock valued at $214,000 after acquiring an additional 6,800 shares during the period. The Manufacturers Life Insurance Company grew its stake in Shattuck Labs by 5.4% in the first quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company's stock valued at $915,000 after acquiring an additional 7,244 shares during the period. Virtu Financial LLC acquired a new stake in Shattuck Labs in the third quarter valued at approximately $38,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Shattuck Labs during the third quarter valued at approximately $46,000. 58.74% of the stock is currently owned by institutional investors and hedge funds.

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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