Bank of New York Mellon Corp Buys New Stake in Shattuck Labs, Inc. $STTK

Bank of New York Mellon Corp purchased a new stake in Shattuck Labs, Inc. (NASDAQ:STTK - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 218,505 shares of the company's stock, valued at approximately $1,516,000. Bank of New York Mellon Corp owned approximately 0.28% of Shattuck Labs at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in STTK. Virtu Financial LLC acquired a new stake in shares of Shattuck Labs during the 3rd quarter worth about $38,000. Squarepoint Ops LLC acquired a new position in Shattuck Labs in the third quarter valued at approximately $46,000. State of Wyoming purchased a new position in Shattuck Labs in the second quarter valued at approximately $151,000. Dimensional Fund Advisors LP acquired a new stake in Shattuck Labs during the fourth quarter worth approximately $85,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Shattuck Labs during the fourth quarter worth approximately $97,000. 58.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Jefferies Financial Group upgraded shares of Shattuck Labs to an "outperform" rating and set a $7.00 target price for the company in a report on Friday, June 5th. Needham & Company LLC lifted their price target on shares of Shattuck Labs from $14.00 to $17.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. Wall Street Zen cut shares of Shattuck Labs from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Citigroup raised Shattuck Labs from a "neutral" rating to a "buy" rating and set a $7.00 price objective on the stock in a report on Friday, June 5th. Finally, TD Cowen upgraded Shattuck Labs to a "strong-buy" rating in a research report on Monday, August 24th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $12.78.

Insider Transactions at Shattuck Labs

In related news, insider Abhinav A. Shukla sold 23,365 shares of the firm's stock in a transaction dated 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 sale, the insider owned 86,380 shares in the company, valued at $611,570.40. This trade represents 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 link. 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 Shattuck Labs stock in a transaction that occurred 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 directly owned 136,219 shares in the company, valued at $954,895.19. This represents a 18.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 53,875 shares of company stock worth $379,305. Company insiders own 8.79% of the company's stock.

Shattuck Labs Trading Down 2.6%

Shares of STTK stock opened at $6.33 on Thursday. The company has a market capitalization of $635.28 million, a P/E ratio of -12.41 and a beta of 1.09. The business's 50 day moving average is $7.14 and its two-hundred day moving average is $6.38. Shattuck Labs, Inc. has a twelve month low of $1.68 and a twelve month high of $8.33.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last released its quarterly earnings results 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 predict that Shattuck Labs, Inc. will post -0.44 earnings per share for the current fiscal 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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