Shattuck Labs (NASDAQ:STTK) Stock Price Down 6.6% – Should You Sell?

Shattuck Labs, Inc. (NASDAQ:STTK)’s share price was down 6.6% during mid-day trading on Friday . The company traded as low as $6.61 and last traded at $6.5670. 38,819 shares were traded during trading, a decline of 95% from the average session volume of 835,371 shares. The stock had previously closed at $7.03.

Analyst Upgrades and Downgrades

STTK has been the subject of a number of research reports. Wall Street Zen upgraded shares of Shattuck Labs from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Needham & Company LLC upped their price objective on shares of Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, June 8th. Jefferies Financial Group raised shares of Shattuck Labs to an “outperform” rating and set a $7.00 price objective on the stock in a research report on Friday, June 5th. Weiss Ratings upgraded Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Finally, Cantor Fitzgerald started coverage on Shattuck Labs in a research report on Monday, April 27th. They issued an “overweight” rating for the company. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.00.

Shattuck Labs Price Performance

The stock has a market cap of $490.29 million, a price-to-earnings ratio of -10.07 and a beta of 1.05. The company’s fifty day simple moving average is $5.91 and its two-hundred day simple moving average is $5.41.

Shattuck Labs (NASDAQ:STTK) last issued its quarterly earnings data 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 quarter last year, the firm earned ($0.27) EPS. On average, analysts forecast that Shattuck Labs, Inc. will post -0.51 earnings per share for the current year.

Insider Activity at Shattuck Labs

In other news, insider Arundathy N. Pandite sold 30,000 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 166,219 shares of the company’s stock, valued at $1,098,707.59. This represents a 15.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Clay B. Siegall bought 62,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $4.00 per share, for a total transaction of $250,000.00. Following the acquisition, the director directly owned 318,608 shares of the company’s stock, valued at approximately $1,274,432. This represents a 24.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 85,907 shares of company stock valued at $591,850. 8.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shattuck Labs

A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Shattuck Labs by 265.4% in the 1st quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock worth $41,000 after acquiring an additional 31,355 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Shattuck Labs during the first quarter valued at about $81,000. Acadian Asset Management LLC boosted its holdings in Shattuck Labs by 27.6% during the first quarter. Acadian Asset Management LLC now owns 257,345 shares of the company’s stock worth $243,000 after purchasing an additional 55,687 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in Shattuck Labs during the second quarter worth about $44,000. Finally, Jane Street Group LLC grew its position in Shattuck Labs by 2,510.8% in the 2nd quarter. Jane Street Group LLC now owns 289,671 shares of the company’s stock worth $229,000 after purchasing an additional 278,576 shares in the last quarter. 58.74% of the stock is 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.