Shattuck Labs (NASDAQ:STTK) Announces Earnings Results

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

Shattuck Labs Stock Down 0.7%

Shares of NASDAQ STTK traded down $0.05 during trading on Tuesday, reaching $7.09. The company had a trading volume of 214,329 shares, compared to its average volume of 893,308. The stock has a market cap of $543.89 million, a PE ratio of -11.25 and a beta of 1.08. Shattuck Labs has a 12-month low of $0.71 and a 12-month high of $8.33. The business’s 50-day moving average is $6.22 and its 200 day moving average is $5.88.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STTK. JPMorgan Chase & Co. started coverage on shares of Shattuck Labs in a research note on Friday, July 24th. They set an “overweight” rating and a $10.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Shattuck Labs in a research note on Monday, April 27th. They issued an “overweight” rating on the stock. Wedbush lifted their price target on Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Finally, Needham & Company LLC raised 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. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Shattuck Labs has a consensus rating of “Moderate Buy” and an average price target of $12.62.

Insiders Place Their Bets

In other Shattuck Labs news, insider Arundathy N. Pandite sold 30,000 shares of the firm’s 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Clay B. Siegall bought 62,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average price of $4.00 per share, with a total value 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. This trade represents a 24.40% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 53,875 shares of company stock valued at $379,305. Corporate insiders own 8.79% of the company’s stock.

Institutional Trading of Shattuck Labs

Several hedge funds have recently bought and sold shares of the stock. Orbimed Advisors LLC bought a new position in shares of Shattuck Labs in the third quarter worth about $15,072,000. Price T Rowe Associates Inc. MD bought a new position in shares of Shattuck Labs during the 4th quarter valued at approximately $7,031,000. T. Rowe Price Investment Management Inc. purchased a new stake in Shattuck Labs in the 4th quarter worth approximately $4,945,000. Bank of America Corp DE increased its holdings in Shattuck Labs by 2,968.2% in the 3rd quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock worth $2,705,000 after acquiring an additional 1,094,997 shares in the last quarter. Finally, Two Sigma Investments LP raised its stake in Shattuck Labs by 431.1% during the 3rd quarter. Two Sigma Investments LP now owns 408,598 shares of the company’s stock worth $977,000 after acquiring an additional 331,664 shares during the period. 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.