The Manufacturers Life Insurance Company Invests $1.58 Million in Shattuck Labs, Inc. $STTK

Key Points

• The Manufacturers Life Insurance Company purchased 227,071 Shattuck Labs shares worth approximately $1.58 million, acquiring a 0.30% stake. Institutional investors collectively own 58.74% of STTK.
• Analysts are broadly bullish, with an average rating of “Buy” and a consensus price target of $12.78. Recent targets range from $7 to $18, including “Strong Buy” coverage from Raymond James.
• Shattuck Labs reported quarterly EPS of negative $0.12, in line with estimates, while its stock opened at $6.96 and has traded between $1.19 and $8.33 over the past year. The biotechnology company is developing immunotherapeutic vaccines initially targeting fentanyl and other substance-use disorders.

The Manufacturers Life Insurance Company purchased a new stake in shares of Shattuck Labs, Inc. (NASDAQ:STTK - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 227,071 shares of the company's stock, valued at approximately $1,576,000. The Manufacturers Life Insurance Company owned approximately 0.30% of Shattuck Labs at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STTK. OMERS ADMINISTRATION Corp grew its position in Shattuck Labs by 25.7% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company's stock worth $214,000 after purchasing an additional 6,800 shares in the last quarter. Virtu Financial LLC bought a new position in Shattuck Labs in the 3rd quarter valued at $38,000. Squarepoint Ops LLC purchased a new stake in shares of Shattuck Labs during the 3rd quarter valued at $46,000. State of Wyoming bought a new stake in shares of Shattuck Labs during the 2nd quarter worth $151,000. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Shattuck Labs in the 4th quarter worth about $85,000. 58.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Leerink Partners assumed coverage on shares of Shattuck Labs in a report on Monday, July 20th. They set an "outperform" rating and a $16.00 price objective for the company. 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 research note on Friday, June 5th. Wedbush upped their price objective on Shattuck Labs from $8.00 to $11.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Raymond James Financial started coverage on Shattuck Labs in a research note on Monday, August 24th. They set a "strong-buy" rating and a $18.00 price target for the company. Finally, Needham & Company LLC raised their price objective on shares of Shattuck Labs from $14.00 to $17.00 and gave the stock a "buy" rating in a 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $12.78.

Insider Transactions at Shattuck Labs

In other news, Director Clay B. Siegall acquired 62,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average cost of $4.00 per share, with a total value of $250,000.00. Following the acquisition, the director owned 318,608 shares in the company, valued at approximately $1,274,432. This represents a 24.40% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Abhinav A. Shukla sold 23,365 shares of the business's stock in a transaction that occurred 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 owned 86,380 shares of the company's stock, valued at $611,570.40. The trade was a 21.29% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 53,875 shares of company stock worth $379,305. 8.79% of the stock is currently owned by corporate insiders.

Shattuck Labs Stock Performance

NASDAQ STTK opened at $6.96 on Friday. Shattuck Labs, Inc. has a 52-week low of $1.19 and a 52-week high of $8.33. The company has a market capitalization of $698.51 million, a P/E ratio of -13.65 and a beta of 1.09. The company has a fifty day moving average of $7.15 and a 200-day moving average of $6.31.

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