Leerink Partners Initiates Coverage on Shattuck Labs (NASDAQ:STTK)

Leerink Partners assumed coverage on shares of Shattuck Labs (NASDAQ:STTK) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $4.00 price target on the stock. Leerink Partners’ price target points to a potential upside of 244.83% from the stock’s previous close.

Shattuck Labs Trading Down 0.9 %

Shares of NASDAQ:STTK opened at $1.16 on Monday. The stock has a 50 day moving average of $1.24 and a 200 day moving average of $1.60. The company has a market cap of $55.38 million, a PE ratio of -0.76 and a beta of 1.66. Shattuck Labs has a 12-month low of $0.94 and a 12-month high of $11.76.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in STTK. Adage Capital Partners GP L.L.C. grew its stake in shares of Shattuck Labs by 61.2% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 4,675,000 shares of the company’s stock valued at $5,657,000 after acquiring an additional 1,775,000 shares during the period. 683 Capital Management LLC bought a new position in shares of Shattuck Labs during the 4th quarter valued at approximately $1,270,000. Prosight Management LP grew its stake in shares of Shattuck Labs by 15.1% during the 4th quarter. Prosight Management LP now owns 6,638,935 shares of the company’s stock valued at $8,033,000 after acquiring an additional 873,409 shares during the period. Takeda Pharmaceutical Co. Ltd. bought a new position in shares of Shattuck Labs during the 4th quarter valued at approximately $624,000. Finally, Bank of America Corp DE grew its stake in shares of Shattuck Labs by 135.0% during the 4th quarter. Bank of America Corp DE now owns 187,089 shares of the company’s stock valued at $226,000 after acquiring an additional 107,491 shares during the period. 58.74% of the stock is currently owned by institutional investors.

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.