Shattuck Labs (NASDAQ:STTK) Shares Up 7% – Here’s Why

Shattuck Labs, Inc. (NASDAQ:STTK) shares traded up 7% during mid-day trading on Friday . The company traded as high as $7.45 and last traded at $7.5650. Approximately 213,622 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 867,859 shares. The stock had previously closed at $7.07.

Wall Street Analyst Weigh In

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

Shattuck Labs Trading Up 5.5%

The firm has a market capitalization of $571.88 million, a PE ratio of -11.84 and a beta of 1.05. The stock’s 50 day moving average price is $5.90 and its two-hundred day moving average price is $5.53.

Shattuck Labs (NASDAQ:STTK) last posted its 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 in the previous year, the business posted ($0.27) earnings per share. Analysts expect that Shattuck Labs, Inc. will post -0.51 earnings per share for the current year.

Insider Buying and Selling

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 shares were sold at an average price of $7.01, for a total transaction of $210,300.00. Following the sale, the insider directly owned 136,219 shares of the company’s stock, valued at $954,895.19. This trade represents a 18.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Clay B. Siegall purchased 62,500 shares of the stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average price of $4.00 per share, with a total value of $250,000.00. Following the completion of the acquisition, the director 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. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 85,907 shares of company stock worth $591,850. 8.79% of the stock is owned by corporate insiders.

Institutional Trading of Shattuck Labs

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Shattuck Labs in the 3rd quarter valued at $38,000. AQR Capital Management LLC grew its position in shares of Shattuck Labs by 265.4% in the first quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock valued at $41,000 after purchasing an additional 31,355 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Shattuck Labs in the second quarter valued at $44,000. Squarepoint Ops LLC acquired a new position in Shattuck Labs in the third quarter valued at $46,000. Finally, Bridgeway Capital Management LLC lifted its position in Shattuck Labs by 147.5% during the second quarter. Bridgeway Capital Management LLC now owns 92,300 shares of the company’s stock worth $73,000 after buying an additional 55,000 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.