Shattuck Labs (NASDAQ:STTK) Insider Sells $198,300.00 in Stock

Shattuck Labs, Inc. (NASDAQ:STTK) insider Arundathy Pandite sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $6.61, for a total transaction of $198,300.00. Following the transaction, the insider owned 166,219 shares of the company’s stock, valued at $1,098,707.59. This represents a 15.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shattuck Labs Stock Down 6.1%

Shares of STTK opened at $6.26 on Friday. Shattuck Labs, Inc. has a 52-week low of $0.71 and a 52-week high of $8.33. The firm has a 50-day moving average price of $6.64 and a 200 day moving average price of $4.47. The firm has a market capitalization of $480.02 million, a PE ratio of -9.94 and a beta of 1.18.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. During the same quarter in the prior year, the business posted ($0.27) EPS. On average, equities analysts expect that Shattuck Labs, Inc. will post -0.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on STTK. Piper Sandler began coverage on shares of Shattuck Labs in a research note on Wednesday, January 28th. They set an “overweight” rating and a $15.00 price objective for the company. Wedbush upped their price objective on shares of Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Needham & Company LLC began coverage on shares of Shattuck Labs in a research note on Friday, March 6th. They set a “buy” rating and a $25.00 price objective for the company. Wall Street Zen raised shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Finally, HC Wainwright upped their price objective on shares of Shattuck Labs from $6.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Shattuck Labs presently has an average rating of “Moderate Buy” and an average price target of $13.00.

Institutional Trading of Shattuck Labs

A number of hedge funds have recently bought and sold shares of STTK. Orbimed Advisors LLC purchased a new stake in Shattuck Labs during the third quarter valued at about $15,072,000. NEXTBio Capital Management LP purchased a new stake in shares of Shattuck Labs in the fourth quarter worth approximately $11,497,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Shattuck Labs in the fourth quarter worth approximately $7,031,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Shattuck Labs in the fourth quarter worth approximately $4,945,000. Finally, Bank of America Corp DE lifted its position in shares of Shattuck Labs by 2,968.2% in the third quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock worth $2,705,000 after purchasing an additional 1,094,997 shares in the last quarter. 58.74% of the stock is owned by hedge funds and other institutional investors.

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.