3,750,000 Shares in Shattuck Labs, Inc. $STTK Purchased by Frazier Life Sciences Management L.P.

Key Points

• Frazier Life Sciences Management acquired 3.75 million Shattuck Labs shares worth approximately $26.0 million, giving it a 3.74% stake. Institutional investors collectively own 58.74% of the company.
• Analyst sentiment is broadly positive: Shattuck Labs has a consensus “Buy” rating and an average price target of $12.78, with recent targets ranging from $7 to $17.
• Shattuck Labs reported quarterly EPS of negative $0.12, in line with estimates. The clinical-stage biotech is developing immunotherapeutic vaccines targeting substance-use disorders, initially focusing on fentanyl.

Frazier Life Sciences Management L.P. bought a new position in shares of Shattuck Labs, Inc. (NASDAQ:STTK - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,750,000 shares of the company's stock, valued at approximately $26,025,000. Frazier Life Sciences Management L.P. owned 3.74% of Shattuck Labs at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP acquired a new position in Shattuck Labs during the second quarter valued at approximately $12,269,000. Bank of America Corp DE bought a new position in Shattuck Labs in the second quarter valued at about $319,000. Hsbc Holdings PLC bought a new position in Shattuck Labs in the second quarter valued at about $312,000. Legal & General Group Plc bought a new position in Shattuck Labs in the second quarter valued at about $41,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Shattuck Labs during the second quarter worth about $1,576,000. Institutional investors own 58.74% of the company's stock.

Insiders Place Their Bets

In related news, insider Abhinav A. Shukla sold 23,365 shares of the business'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 sale, the insider owned 86,380 shares of the company's stock, 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 SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Arundathy N. Pandite sold 30,000 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.01, for a total value of $210,300.00. Following the completion of the sale, the insider owned 136,219 shares of the company's stock, valued at $954,895.19. The trade was a 18.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 53,875 shares of company stock valued at $379,305 in the last ninety days. 8.79% of the stock is currently owned by insiders.

Analysts Set New Price Targets

STTK has been the subject of a number of research reports. Weiss Ratings raised shares of Shattuck Labs from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, June 16th. Citigroup upgraded shares of Shattuck Labs from a "neutral" rating to a "buy" rating and set a $7.00 price objective for the company in a research report on Friday, June 5th. Jefferies Financial Group upgraded shares of Shattuck Labs to an "outperform" rating and set a $7.00 price objective for the company in a research report on Friday, June 5th. Leerink Partners initiated coverage on shares of Shattuck Labs in a research note on Monday, July 20th. They issued an "outperform" rating and a $16.00 price objective for the company. Finally, Needham & Company LLC raised their target price on shares of Shattuck Labs from $14.00 to $17.00 and gave the company a "buy" rating in a research report on Monday, June 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $12.78.

Shattuck Labs Stock Performance

NASDAQ:STTK opened at $6.79 on Monday. The stock has a market cap of $681.44 million, a P/E ratio of -13.31 and a beta of 1.09. The stock's 50-day moving average is $7.16 and its 200-day moving average is $6.33. Shattuck Labs, Inc. has a 1-year low of $1.45 and a 1-year high of $8.33.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.12). As a group, equities analysts forecast that Shattuck Labs, Inc. will post -0.44 EPS for the current year.

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.

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