Wellington Management Group LLP Makes New Investment in Shattuck Labs, Inc. $STTK

Wellington Management Group LLP purchased a new position in shares of Shattuck Labs, Inc. (NASDAQ:STTK) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,767,938 shares of the company’s stock, valued at approximately $12,269,000. Wellington Management Group LLP owned about 2.31% of Shattuck Labs as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Legal & General Group Plc purchased a new stake in Shattuck Labs during the 2nd quarter worth approximately $41,000. Virtu Financial LLC purchased a new position in shares of Shattuck Labs in the third quarter worth $38,000. Squarepoint Ops LLC acquired a new stake in shares of Shattuck Labs during the third quarter worth $46,000. State of Wyoming acquired a new stake in shares of Shattuck Labs during the second quarter worth $151,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Shattuck Labs during the fourth quarter valued at $85,000. 58.74% of the stock is owned by hedge funds and other institutional investors.

Shattuck Labs Price Performance

NASDAQ STTK opened at $6.79 on Tuesday. Shattuck Labs, Inc. has a 1 year low of $1.45 and a 1 year high of $8.33. The company has a market capitalization of $681.44 million, a PE ratio of -13.31 and a beta of 1.09. The company has a fifty day moving average of $7.16 and a 200 day moving average of $6.35.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). Research analysts expect that Shattuck Labs, Inc. will post -0.44 earnings per share for the current year.

Insider Activity

In other Shattuck Labs news, insider Abhinav A. Shukla sold 23,365 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total value of $165,424.20. Following the completion of the transaction, the insider directly owned 86,380 shares of the company’s stock, valued at approximately $611,570.40. The trade was a 21.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Arundathy N. Pandite sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $7.01, for a total value of $210,300.00. Following the completion of the sale, the insider owned 136,219 shares in the company, valued at approximately $954,895.19. This represents a 18.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 53,875 shares of company stock worth $379,305. 8.79% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

STTK has been the subject of a number of research analyst reports. Needham & Company LLC raised their target price on Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, June 8th. Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 price objective on the stock in a report on Friday, June 5th. TD Cowen upgraded Shattuck Labs to a “strong-buy” rating in a research note on Monday, August 24th. HC Wainwright decreased their target price on Shattuck Labs from $18.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered Shattuck Labs from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Shattuck Labs currently has a consensus rating of “Buy” and a consensus price target of $12.78.

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.