Shattuck Labs (NASDAQ:STTK) Insider Arundathy Pandite Sells 30,000 Shares of Stock

Shattuck Labs, Inc. (NASDAQ:STTK) insider Arundathy Pandite sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $7.01, for a total transaction of $210,300.00. Following the completion of the sale, the insider directly owned 136,219 shares of the company’s stock, valued at $954,895.19. This represents a 18.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shattuck Labs Stock Up 8.3%

Shares of STTK opened at $7.05 on Friday. The firm has a market cap of $540.60 million, a price-to-earnings ratio of -11.19 and a beta of 1.05. The company’s fifty day moving average is $5.97 and its 200-day moving average is $5.26. Shattuck Labs, Inc. has a 12 month low of $0.71 and a 12 month high of $8.33.

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

Hedge Funds Weigh In On Shattuck Labs

Several large investors have recently bought and sold shares of STTK. Orbimed Advisors LLC bought a new position in shares of Shattuck Labs during the 3rd quarter worth about $15,072,000. NEXTBio Capital Management LP bought a new stake in shares of Shattuck Labs in the fourth quarter valued at about $11,497,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Shattuck Labs in the fourth quarter valued at about $7,031,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Shattuck Labs in the fourth quarter valued at about $4,945,000. Finally, Bank of America Corp DE raised its holdings in Shattuck Labs by 2,968.2% in the 3rd quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock valued at $2,705,000 after acquiring an additional 1,094,997 shares in the last quarter. 58.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on STTK shares. Weiss Ratings upgraded Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Wedbush raised their price objective on Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a report on Friday, June 5th. Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 target price for the company in a research report on Friday, June 5th. Finally, Needham & Company LLC increased their price target on Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, June 8th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.