Shattuck Labs (NASDAQ:STTK) Releases Quarterly Earnings Results, Meets Estimates

Shattuck Labs (NASDAQ:STTK) announced its quarterly earnings results on Tuesday. The company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12), FiscalAI reports.

Shattuck Labs Stock Up 3.3%

Shattuck Labs stock opened at $7.38 on Tuesday. The company has a market capitalization of $565.51 million, a PE ratio of -11.65 and a beta of 1.08. Shattuck Labs has a 12-month low of $0.71 and a 12-month high of $8.33. The firm’s fifty day moving average is $6.22 and its 200 day moving average is $5.88.

Insider Activity

In other news, insider Abhinav A. Shukla sold 23,365 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 86,380 shares in the company, valued at $611,570.40. This trade represents a 21.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Clay B. Siegall bought 62,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $4.00 per share, with a total value of $250,000.00. Following the completion of the transaction, the director directly owned 318,608 shares in the company, valued at $1,274,432. This represents a 24.40% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 53,875 shares of company stock worth $379,305 in the last three months. Company insiders own 8.79% of the company’s stock.

Hedge Funds Weigh In On Shattuck Labs

A number of large investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in Shattuck Labs during the third quarter worth $38,000. AQR Capital Management LLC increased its position in shares of Shattuck Labs by 265.4% during the first 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. Qube Research & Technologies Ltd acquired a new stake in shares of Shattuck Labs in the 2nd quarter worth about $44,000. Squarepoint Ops LLC acquired a new stake in shares of Shattuck Labs in the 3rd quarter worth about $46,000. Finally, Bridgeway Capital Management LLC lifted its position in Shattuck Labs by 147.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 92,300 shares of the company’s stock valued at $73,000 after acquiring an additional 55,000 shares in the last quarter. 58.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on STTK shares. Wedbush upped their target price on Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Leerink Partners began coverage on Shattuck Labs in a research note on Monday, July 20th. They set an “outperform” rating and a $16.00 price target on the stock. Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Friday, June 5th. Weiss Ratings raised Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Finally, Needham & Company LLC raised 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. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Shattuck Labs has an average rating of “Moderate Buy” and an average price target of $12.62.

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.