Shattuck Labs (NASDAQ:STTK) Insider Arundathy Pandite Sells 30,000 Shares of Stock

Shattuck Labs, Inc. (NASDAQ:STTK) insider Arundathy Pandite sold 30,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.01, for a total value of $210,300.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shattuck Labs Price Performance

NASDAQ:STTK traded up $0.54 during midday trading on Thursday, hitting $7.05. The company’s stock had a trading volume of 908,799 shares, compared to its average volume of 1,941,862. Shattuck Labs, Inc. has a fifty-two week low of $0.71 and a fifty-two week high of $8.33. The firm has a market cap of $540.59 million, a P/E ratio of -11.19 and a beta of 1.05. The firm’s 50 day moving average is $5.97 and its 200-day moving average is $5.26.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STTK. Needham & Company LLC lifted their price target on Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Wedbush lifted their target price on shares of Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Citigroup upgraded shares of 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. Cantor Fitzgerald initiated coverage on shares of Shattuck Labs in a research note on Monday, April 27th. They issued an “overweight” rating on the stock. Finally, HC Wainwright restated a “buy” rating and set a $18.00 price target on shares of Shattuck Labs in a research report on Monday, June 8th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Orbimed Advisors LLC acquired a new stake in Shattuck Labs during the third quarter worth $15,072,000. NEXTBio Capital Management LP acquired a new position in shares of Shattuck Labs in the 4th quarter valued at $11,497,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Shattuck Labs during the 4th quarter worth $7,031,000. Pinnacle Associates Ltd. grew its holdings in shares of Shattuck Labs by 1.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,388,723 shares of the company’s stock worth $3,319,000 after purchasing an additional 25,000 shares during the period. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Shattuck Labs during the 4th quarter worth about $4,945,000. 58.74% of the stock is currently owned by hedge funds and other institutional investors.

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.