Shattuck Labs (NASDAQ:STTK) Sees Unusually-High Trading Volume – Here’s Why

Shattuck Labs, Inc. (NASDAQ:STTK) shares saw unusually-strong trading volume on Wednesday . 2,726,097 shares traded hands during mid-day trading, an increase of 216% from the previous session’s volume of 861,683 shares.The stock last traded at $6.5990 and had previously closed at $6.29.

Wall Street Analyst Weigh In

STTK has been the subject of several analyst reports. Citigroup raised 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. Needham & Company LLC upped their price target on Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 price target for the company in a research note on Friday, June 5th. Weiss Ratings upgraded Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Shattuck Labs in a research note on Monday, June 8th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Shattuck Labs Stock Up 4.4%

The firm has a market cap of $542.13 million, a price-to-earnings ratio of -11.22 and a beta of 1.05. The firm has a 50 day moving average of $5.90 and a 200 day moving average of $5.53.

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

Insider Activity at Shattuck Labs

In related news, insider Arundathy N. Pandite sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were 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 in the company, valued at $1,098,707.59. The trade was a 15.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 bought at an average cost of $4.00 per share, for a total transaction of $250,000.00. Following the completion of the purchase, the director owned 318,608 shares of the company’s stock, valued at $1,274,432. This represents a 24.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 85,907 shares of company stock worth $591,850 in the last quarter. Company insiders own 8.79% of the company’s stock.

Hedge Funds Weigh In On Shattuck Labs

Several institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its position in shares of Shattuck Labs by 265.4% during the 1st quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock worth $41,000 after purchasing an additional 31,355 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Shattuck Labs in the 1st quarter valued at about $81,000. Acadian Asset Management LLC increased its position in Shattuck Labs by 27.6% in the 1st quarter. Acadian Asset Management LLC now owns 257,345 shares of the company’s stock valued at $243,000 after buying an additional 55,687 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Shattuck Labs during the 2nd quarter worth approximately $44,000. Finally, Jane Street Group LLC raised its stake in Shattuck Labs by 2,510.8% during the 2nd quarter. Jane Street Group LLC now owns 289,671 shares of the company’s stock worth $229,000 after buying an additional 278,576 shares during the period. Institutional investors and hedge funds own 58.74% of the company’s stock.

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.