Wellington Management Group LLP Acquires Shares of 1,767,938 Shattuck Labs, Inc. $STTK

Wellington Management Group LLP acquired a new position in Shattuck Labs, Inc. (NASDAQ:STTK) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,767,938 shares of the company’s stock, valued at approximately $12,269,000.

Several other hedge funds have also modified their holdings of the company. Bank of America Corp DE acquired a new stake in shares of Shattuck Labs during the 2nd quarter valued at about $319,000. Hsbc Holdings PLC acquired a new position in Shattuck Labs in the 2nd quarter worth about $312,000. Legal & General Group Plc purchased a new position in Shattuck Labs during the second quarter worth approximately $41,000. The Manufacturers Life Insurance Company purchased a new position in Shattuck Labs during the second quarter worth approximately $1,576,000. Finally, Algert Global LLC grew its holdings in Shattuck Labs by 47.2% in the second quarter. Algert Global LLC now owns 421,187 shares of the company’s stock valued at $2,923,000 after purchasing an additional 135,115 shares during the period. 58.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wall Street Zen cut Shattuck Labs from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Raymond James Financial initiated coverage on Shattuck Labs in a research report on Monday, August 24th. They set a “strong-buy” rating and a $18.00 target price on the stock. TD Cowen raised shares of Shattuck Labs to a “strong-buy” rating in a research note on Monday, August 24th. HC Wainwright cut their price target on shares of Shattuck Labs from $18.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Finally, Leerink Partners started coverage on shares of Shattuck Labs in a research report on Monday, July 20th. They set an “outperform” rating and a $16.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $12.78.

Shattuck Labs Stock Performance

STTK stock opened at $6.79 on Tuesday. Shattuck Labs, Inc. has a 12-month low of $1.45 and a 12-month high of $8.33. The stock has a market cap of $681.44 million, a price-to-earnings ratio of -13.31 and a beta of 1.09. The business’s 50-day moving average is $7.16 and its 200 day moving average is $6.35.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). As a group, equities analysts forecast that Shattuck Labs, Inc. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Arundathy N. Pandite sold 30,000 shares of the stock in a transaction 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 transaction, the insider directly owned 136,219 shares of the company’s stock, valued at approximately $954,895.19. This represents a 18.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Abhinav A. Shukla sold 23,365 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total value of $165,424.20. Following the completion of 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 disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 53,875 shares of company stock worth $379,305 over the last ninety days. Corporate insiders own 8.79% of the company’s stock.

Shattuck Labs 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.