Shattuck Labs (NASDAQ:STTK) Trading Up 5.5% – Here’s What Happened

Shattuck Labs, Inc. (NASDAQ:STTK) traded up 5.5% during mid-day trading on Monday . The stock traded as high as $7.91 and last traded at $7.9450. Approximately 885,206 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 893,689 shares. The stock had previously closed at $7.53.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Needham & Company LLC increased their price target on Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. JPMorgan Chase & Co. began coverage on Shattuck Labs in a research note on Friday, July 24th. They set an “overweight” rating and a $10.00 price target on the stock. Leerink Partners initiated coverage on Shattuck Labs in a research report on Monday, July 20th. They set an “outperform” rating and a $16.00 price objective for the company. Cantor Fitzgerald began coverage on shares of Shattuck Labs in a report on Monday, April 27th. They set an “overweight” rating on the stock. Finally, Weiss Ratings upgraded shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.78.

Shattuck Labs Stock Up 5.3%

The company has a market cap of $795.58 million, a PE ratio of -15.49 and a beta of 1.08. The stock’s 50 day simple moving average is $6.75 and its two-hundred day simple moving average is $6.09.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). Analysts forecast that Shattuck Labs, Inc. will post -0.43 EPS for the current year.

Insider Activity at Shattuck Labs

In related news, insider Abhinav A. Shukla sold 23,365 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total transaction of $165,424.20. Following the completion of the sale, the insider directly owned 86,380 shares of the company’s stock, valued at approximately $611,570.40. This trade represents a 21.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Shattuck Labs stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $7.01, for a total value of $210,300.00. Following the sale, the insider directly owned 136,219 shares in the company, valued at approximately $954,895.19. The trade was a 18.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 53,875 shares of company stock worth $379,305. Corporate insiders own 8.79% of the company’s stock.

Institutional Trading of Shattuck Labs

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orbimed Advisors LLC acquired a new position in Shattuck Labs in the third quarter worth about $15,072,000. BlackRock Inc. bought a new position in shares of Shattuck Labs in the second quarter valued at approximately $27,315,000. Frazier Life Sciences Management L.P. acquired a new position in Shattuck Labs during the second quarter worth about $26,025,000. NEXTBio Capital Management LP acquired a new position in Shattuck Labs in the fourth quarter worth approximately $11,497,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of Shattuck Labs during the fourth quarter worth $7,031,000. 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.