Shattuck Labs (NASDAQ:STTK) Trading Down 4.9% – Here’s Why

Shattuck Labs, Inc. (NASDAQ:STTK)’s stock price was down 4.9% during trading on Monday . The company traded as low as $7.14 and last traded at $7.16. 152,778 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 884,001 shares. The stock had previously closed at $7.53.

Wall Street Analysts Forecast Growth

STTK has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Shattuck Labs in a research report on Monday, June 8th. Jefferies Financial Group upgraded Shattuck Labs to an “outperform” rating and set a $7.00 price objective for the company in a research note on Friday, June 5th. Citigroup raised Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Friday, June 5th. Needham & Company LLC boosted their target price on shares of Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Finally, Cantor Fitzgerald assumed coverage on shares of Shattuck Labs in a research report on Monday, April 27th. They set an “overweight” rating for the company. Nine research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.00.

Shattuck Labs Trading Up 5.7%

The company has a market cap of $552.87 million, a PE ratio of -11.44 and a beta of 1.05. The firm’s 50-day simple moving average is $5.92 and its two-hundred day simple moving average is $5.60.

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

Insider Buying and Selling

In other news, insider Abhinav A. Shukla sold 23,365 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total value of $165,424.20. Following the transaction, the insider directly owned 86,380 shares of the company’s stock, valued at approximately $611,570.40. This represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Arundathy N. Pandite sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $6.61, for a total value of $198,300.00. Following the completion of the transaction, the insider owned 166,219 shares of the company’s stock, valued at approximately $1,098,707.59. The trade was a 15.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 85,907 shares of company stock worth $591,850 in the last 90 days. Insiders own 8.79% of the company’s stock.

Hedge Funds Weigh In On Shattuck Labs

A number of institutional investors have recently bought and sold shares of STTK. Orbimed Advisors LLC purchased a new stake in shares of Shattuck Labs in the 3rd quarter valued at $15,072,000. NEXTBio Capital Management LP acquired a new position in Shattuck Labs during the fourth quarter valued at $11,497,000. Price T Rowe Associates Inc. MD purchased a new stake in Shattuck Labs in the fourth quarter valued at $7,031,000. T. Rowe Price Investment Management Inc. acquired a new stake in Shattuck Labs during the 4th quarter worth about $4,945,000. Finally, Bank of America Corp DE grew its position in Shattuck Labs by 2,968.2% during the 3rd 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 during the period. 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.