BlackRock Inc. Invests $27.32 Million in Shattuck Labs, Inc. $STTK

Key Points

• BlackRock acquired 3.94 million Shattuck Labs shares worth approximately $27.3 million, giving it a 5.13% stake. Institutional investors collectively own 58.74% of the company.
• Shattuck Labs reported quarterly EPS of -$0.12, in line with analyst expectations, while the stock recently traded at $6.91. Analysts maintain an overall “Buy” rating with an average price target of $12.78.
• Insider activity was mixed: a director purchased $250,000 of shares, while insiders sold $379,305 worth over the past 90 days. The clinical-stage biotech is developing immunotherapeutic vaccines targeting substance-use disorders, including fentanyl.

BlackRock Inc. purchased a new stake in Shattuck Labs, Inc. (NASDAQ:STTK - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,935,810 shares of the company's stock, valued at approximately $27,315,000. BlackRock Inc. owned about 5.13% of Shattuck Labs as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC grew its stake in shares of Shattuck Labs by 265.4% in the first quarter. AQR Capital Management LLC now owns 43,169 shares of the company's stock worth $41,000 after purchasing an additional 31,355 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Shattuck Labs in the first quarter valued at $81,000. Acadian Asset Management LLC raised its position in Shattuck Labs by 27.6% during the 1st quarter. Acadian Asset Management LLC now owns 257,345 shares of the company's stock worth $243,000 after purchasing an additional 55,687 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Shattuck Labs during the 2nd quarter worth $44,000. Finally, Jane Street Group LLC lifted its holdings in Shattuck Labs by 2,510.8% during the 2nd quarter. Jane Street Group LLC now owns 289,671 shares of the company's stock worth $229,000 after buying an additional 278,576 shares during the period. Institutional investors and hedge funds own 58.74% of the company's stock.

Shattuck Labs Trading Up 0.6%

Shares of STTK opened at $6.91 on Thursday. The stock has a market capitalization of $693.49 million, a P/E ratio of -13.55 and a beta of 1.09. The firm's fifty day simple moving average is $7.13 and its two-hundred day simple moving average is $6.29. Shattuck Labs, Inc. has a 12 month low of $1.07 and a 12 month high of $8.33.

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

Insider Buying and Selling

In other Shattuck Labs news, Director Clay B. Siegall bought 62,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average price of $4.00 per share, with a total value of $250,000.00. Following the completion of the purchase, the director directly owned 318,608 shares of the company's stock, valued at approximately $1,274,432. This trade represents a 24.40% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Arundathy N. Pandite sold 30,000 shares of Shattuck Labs stock in a transaction that occurred 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 sale, the insider owned 136,219 shares of the company's stock, valued at approximately $954,895.19. The trade was a 18.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 53,875 shares of company stock valued at $379,305 over the last 90 days. Company insiders own 8.79% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised Shattuck Labs to an "outperform" rating and set a $7.00 price target for the company in a research note on Friday, June 5th. Wall Street Zen lowered Shattuck Labs from a "buy" rating to a "hold" rating in a research note on Saturday, August 15th. Needham & Company LLC upped their target price on Shattuck Labs from $14.00 to $17.00 and gave the company a "buy" rating in a report on Monday, June 8th. HC Wainwright decreased their target price on shares of Shattuck Labs from $18.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Finally, Citigroup upgraded shares of Shattuck Labs from a "neutral" rating to a "buy" rating and set a $7.00 price target for the company in a report on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Shattuck Labs has an average rating of "Buy" and an average price target of $12.78.

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.

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