S&G Foundation Makes New $3.02 Million Investment in Shattuck Labs, Inc. $STTK

Key Points

• S&G Foundation purchased 435,749 shares of Shattuck Labs in the second quarter, valued at approximately $3.02 million and representing a 0.57% stake. Institutional investors collectively own 58.74% of the company.
• Shattuck Labs shares opened at $7.53, up 3.9%, with a 12-month range of $0.90 to $8.33. The company met quarterly expectations with an adjusted loss of $0.12 per share.
• Analyst sentiment is generally positive: 10 analysts rate the stock Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and a $12.12 price target. Insiders, however, have sold 53,875 shares worth $379,305 over the past 90 days.

S&G Foundation purchased a new stake in shares of Shattuck Labs, Inc. (NASDAQ:STTK - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 435,749 shares of the company's stock, valued at approximately $3,024,000. Shattuck Labs makes up about 0.1% of S&G Foundation's investment portfolio, making the stock its 15th biggest position. S&G Foundation owned 0.57% of Shattuck Labs as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Orbimed Advisors LLC purchased a new stake in shares of Shattuck Labs in the third quarter worth $15,072,000. BlackRock Inc. purchased a new position in shares of Shattuck Labs during the 2nd quarter valued at $27,315,000. NEXTBio Capital Management LP purchased a new position in shares of Shattuck Labs during the 4th quarter valued at $11,497,000. Price T Rowe Associates Inc. MD bought a new position in Shattuck Labs in the 4th quarter worth $7,031,000. Finally, T. Rowe Price Investment Management Inc. bought a new position in Shattuck Labs in the 4th quarter worth $4,945,000. 58.74% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Abhinav A. Shukla sold 23,365 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total value of $165,424.20. Following the completion of the sale, the insider directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 transaction, the insider directly 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. In the last 90 days, insiders have sold 53,875 shares of company stock valued at $379,305. 8.79% of the stock is currently owned by insiders.

Shattuck Labs Trading Up 3.9%

STTK opened at $7.53 on Friday. The stock has a 50-day moving average of $6.75 and a 200 day moving average of $6.07. Shattuck Labs, Inc. has a 12 month low of $0.90 and a 12 month high of $8.33. The firm has a market cap of $755.71 million, a P/E ratio of -14.76 and a beta of 1.08.

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). On average, research analysts forecast that Shattuck Labs, Inc. will post -0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

STTK has been the topic of a number of recent analyst reports. Leerink Partners started coverage on Shattuck Labs in a report on Monday, July 20th. They set an "outperform" rating and a $16.00 price target on the stock. Cantor Fitzgerald began coverage on Shattuck Labs in a research note on Monday, April 27th. They issued an "overweight" rating for the company. Jefferies Financial Group upgraded Shattuck Labs to an "outperform" rating and set a $7.00 target price for the company in a research report on Friday, June 5th. JPMorgan Chase & Co. assumed coverage on Shattuck Labs in a research note on Friday, July 24th. They set an "overweight" rating and a $10.00 target price on the stock. Finally, Citigroup raised Shattuck Labs from a "neutral" rating to a "buy" rating and set a $7.00 price target on the stock in a report on Friday, June 5th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.12.

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.

Want to see what other hedge funds are holding STTK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shattuck Labs, Inc. (NASDAQ:STTK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source