Shattuck Labs (NASDAQ:STTK) Insider Sells $165,424.20 in Stock

Shattuck Labs, Inc. (NASDAQ:STTK) insider Abhinav Shukla sold 23,365 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total transaction of $165,424.20. Following the transaction, the insider owned 86,380 shares in the company, valued at $611,570.40. The trade was a 21.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Shattuck Labs Trading Up 8.3%

Shares of STTK stock traded up $0.54 during trading hours 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. The stock has a market cap of $540.59 million, a PE ratio of -11.19 and a beta of 1.05. Shattuck Labs, Inc. has a 12-month low of $0.71 and a 12-month high of $8.33. The company has a 50 day moving average of $5.97 and a 200 day moving average of $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 anticipate that Shattuck Labs, Inc. will post -0.51 earnings per share for the current fiscal year.

Institutional Trading of Shattuck Labs

A number of hedge funds have recently added to or reduced their stakes in the stock. Aberdeen Group plc lifted its holdings in shares of Shattuck Labs by 462.1% during the fourth quarter. Aberdeen Group plc now owns 531,177 shares of the company’s stock worth $1,939,000 after purchasing an additional 436,673 shares during the period. NEXTBio Capital Management LP acquired a new stake in shares of Shattuck Labs in the 4th quarter worth $11,497,000. Keel Point LLC purchased a new stake in shares of Shattuck Labs in the third quarter valued at about $110,000. Mallini Complete Financial Planning LLC acquired a new position in shares of Shattuck Labs during the fourth quarter worth about $83,000. Finally, Pinnacle Associates Ltd. raised its holdings in Shattuck Labs by 1.8% during the third 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 in the last quarter. 58.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on STTK shares. Wedbush boosted their price target 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. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Shattuck Labs in a research report on Monday, June 8th. Needham & Company LLC increased their target price on Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, June 8th. Weiss Ratings raised Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, June 16th. Finally, Cantor Fitzgerald initiated coverage on Shattuck Labs in a report on Monday, April 27th. They issued an “overweight” rating on the stock. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Shattuck Labs presently has an average rating of “Moderate Buy” and an average target price of $11.00.

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.