Shattuck Labs (NASDAQ:STTK) Insider Sells 30,000 Shares

Shattuck Labs, Inc. (NASDAQ:STTK) insider Arundathy Pandite sold 30,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.01, for a total value of $210,300.00. Following the completion of the sale, the insider directly owned 136,219 shares of the company’s stock, valued at approximately $954,895.19. This trade represents a 18.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shattuck Labs Price Performance

NASDAQ:STTK traded up $0.54 during mid-day trading on Thursday, reaching $7.05. 908,799 shares of the company’s stock traded hands, compared to its average volume of 1,941,862. The firm has a market capitalization of $540.59 million, a price-to-earnings ratio of -11.19 and a beta of 1.05. The company has a 50 day moving average price of $5.97 and a 200-day moving average price of $5.26. Shattuck Labs, Inc. has a 12-month low of $0.71 and a 12-month high of $8.33.

Shattuck Labs (NASDAQ:STTK) last announced its earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. During the same period in the prior year, the business posted ($0.27) earnings per share. As a group, analysts forecast that Shattuck Labs, Inc. will post -0.51 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on STTK. Wall Street Zen raised Shattuck Labs from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Wedbush lifted their price objective on Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Needham & Company LLC upped their target price on shares of Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Cantor Fitzgerald assumed coverage on shares of Shattuck Labs in a report on Monday, April 27th. They set an “overweight” rating on the stock. Finally, Citigroup upgraded shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Friday, June 5th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Institutional Trading of Shattuck Labs

A number of large investors have recently added to or reduced their stakes in STTK. Aberdeen Group plc raised its stake in Shattuck Labs by 462.1% during the fourth quarter. Aberdeen Group plc now owns 531,177 shares of the company’s stock valued at $1,939,000 after purchasing an additional 436,673 shares in the last quarter. NEXTBio Capital Management LP purchased a new stake in shares of Shattuck Labs in the 4th quarter worth $11,497,000. Keel Point LLC bought a new position in Shattuck Labs during the 3rd quarter worth about $110,000. Mallini Complete Financial Planning LLC purchased a new stake in shares of Shattuck Labs in the 4th quarter worth approximately $83,000. Finally, Pinnacle Associates Ltd. boosted its position in Shattuck Labs by 1.8% during the third quarter. Pinnacle Associates Ltd. now owns 1,388,723 shares of the company’s stock valued at $3,319,000 after purchasing an additional 25,000 shares in the last quarter. Institutional investors 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.