Abhinav Shukla Sells 23,365 Shares of Shattuck Labs (NASDAQ:STTK) Stock

Shattuck Labs, Inc. (NASDAQ:STTK) insider Abhinav Shukla sold 23,365 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total transaction of $165,424.20. Following the completion of the transaction, the insider directly owned 86,380 shares in the company, valued at $611,570.40. The trade was a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Shattuck Labs Stock Performance

NASDAQ STTK opened at $7.05 on Friday. The firm has a 50-day moving average of $5.96 and a 200-day moving average of $5.27. 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 52-week low of $0.71 and a 52-week high of $8.33.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. During the same quarter last year, the business posted ($0.27) earnings per share. As a group, analysts predict that Shattuck Labs, Inc. will post -0.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on STTK. TD Cowen reiterated a “buy” rating on shares of Shattuck Labs in a research note on Friday, March 6th. Wall Street Zen upgraded Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Shattuck Labs in a report on Monday, June 8th. Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Friday, June 5th. Finally, Cantor Fitzgerald began coverage on Shattuck Labs in a report on Monday, April 27th. They set an “overweight” rating for the company. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Institutional Investors Weigh In On Shattuck Labs

Several institutional investors have recently made changes to their positions in STTK. OMERS ADMINISTRATION Corp grew its position in Shattuck Labs by 25.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock worth $214,000 after buying an additional 6,800 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Shattuck Labs by 5.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock valued at $915,000 after acquiring an additional 7,244 shares in the last quarter. Virtu Financial LLC acquired a new position in Shattuck Labs in the 3rd quarter valued at $38,000. Squarepoint Ops LLC bought a new stake in shares of Shattuck Labs during the 3rd quarter valued at $46,000. Finally, Mallini Complete Financial Planning LLC acquired a new stake in shares of Shattuck Labs during the 4th quarter worth $83,000. 58.74% of the stock is currently owned by institutional investors.

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.