Shattuck Labs (NASDAQ:STTK) Posts Quarterly Earnings Results, Hits Estimates

Shattuck Labs (NASDAQ:STTK) posted its earnings results on Tuesday. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12), FiscalAI reports.

Shattuck Labs Stock Performance

STTK stock opened at $7.18 on Wednesday. The company has a market capitalization of $550.57 million, a P/E ratio of -11.40 and a beta of 1.08. The company has a fifty day moving average price of $6.27 and a 200-day moving average price of $5.90. Shattuck Labs has a 52-week low of $0.71 and a 52-week high of $8.33.

Insider Activity at Shattuck Labs

In related news, Director Clay B. Siegall acquired 62,500 shares of the stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $4.00 per share, for a total transaction of $250,000.00. Following the completion of the transaction, the director directly owned 318,608 shares of the company’s stock, valued at $1,274,432. The trade was a 24.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Arundathy N. Pandite sold 30,000 shares of the company’s stock in a transaction that occurred on 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 owned 136,219 shares in the company, valued at $954,895.19. The trade was a 18.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 53,875 shares of company stock worth $379,305 over the last three months. Company insiders own 8.79% of the company’s stock.

Institutional Investors Weigh In On Shattuck Labs

Several large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in Shattuck Labs during the 3rd quarter valued at $38,000. Squarepoint Ops LLC purchased a new stake in shares of Shattuck Labs in the third quarter valued at about $46,000. Dimensional Fund Advisors LP bought a new position in shares of Shattuck Labs during the fourth quarter valued at about $85,000. OMERS ADMINISTRATION Corp bought a new position in shares of Shattuck Labs during the fourth quarter valued at about $97,000. Finally, Invesco Ltd. purchased a new position in Shattuck Labs during the fourth quarter worth about $103,000. 58.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on STTK. Wedbush lifted their target price on Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. JPMorgan Chase & Co. initiated coverage on shares of Shattuck Labs in a report on Friday, July 24th. They issued an “overweight” rating and a $10.00 price objective for the company. Leerink Partners initiated coverage on shares of Shattuck Labs in a report on Monday, July 20th. They set an “outperform” rating and a $16.00 target price on the stock. Cantor Fitzgerald initiated coverage on Shattuck Labs in a research note on Monday, April 27th. They issued an “overweight” rating for the company. Finally, Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Friday, June 5th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Shattuck Labs has a consensus rating of “Moderate Buy” and an average target price of $12.12.

Shattuck Labs Company Profile

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.