Vanguard Group Inc. Acquires 502,860 Shares of Shattuck Labs, Inc. (NASDAQ:STTK)

Vanguard Group Inc. raised its stake in Shattuck Labs, Inc. (NASDAQ:STTK - Free Report) by 38.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,819,926 shares of the company's stock after purchasing an additional 502,860 shares during the quarter. Vanguard Group Inc. owned 3.83% of Shattuck Labs worth $16,270,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. purchased a new position in Shattuck Labs during the 4th quarter valued at $11,663,000. Pinnacle Associates Ltd. grew its holdings in shares of Shattuck Labs by 13.9% during the first quarter. Pinnacle Associates Ltd. now owns 521,246 shares of the company's stock valued at $4,660,000 after buying an additional 63,800 shares during the last quarter. Monashee Investment Management LLC bought a new stake in shares of Shattuck Labs during the fourth quarter valued at approximately $713,000. SG Americas Securities LLC lifted its position in Shattuck Labs by 4.8% in the 1st quarter. SG Americas Securities LLC now owns 39,377 shares of the company's stock valued at $352,000 after acquiring an additional 1,788 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Shattuck Labs during the 1st quarter valued at $174,000. Hedge funds and other institutional investors own 58.74% of the company's stock.

Insider Activity

In other news, CEO Taylor Schreiber acquired 14,400 shares of Shattuck Labs stock in a transaction on Wednesday, June 26th. The shares were acquired at an average price of $3.47 per share, with a total value of $49,968.00. Following the purchase, the chief executive officer now directly owns 34,502 shares in the company, valued at approximately $119,721.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 10.50% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on STTK shares. Citigroup reduced their price objective on Shattuck Labs from $10.00 to $9.00 and set a "buy" rating for the company in a report on Monday, June 17th. Needham & Company LLC reiterated a "buy" rating and set a $8.00 price objective on shares of Shattuck Labs in a research report on Friday, August 2nd. BTIG Research downgraded shares of Shattuck Labs from a "buy" rating to a "neutral" rating in a research report on Monday, June 17th. Finally, HC Wainwright reissued a "buy" rating and set a $16.00 price target on shares of Shattuck Labs in a report on Friday, August 2nd.

Shattuck Labs Stock Up 9.0 %

STTK stock traded up $0.27 during midday trading on Tuesday, hitting $3.27. The company's stock had a trading volume of 117,509 shares, compared to its average volume of 395,325. Shattuck Labs, Inc. has a 12 month low of $1.33 and a 12 month high of $11.76. The company has a 50 day moving average of $4.50 and a two-hundred day moving average of $7.53. The firm has a market capitalization of $156.08 million, a price-to-earnings ratio of -1.69 and a beta of 1.73.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.01). The company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $0.50 million. Shattuck Labs had a negative return on equity of 68.65% and a negative net margin of 2,067.99%. The business's revenue for the quarter was up 704.5% compared to the same quarter last year. On average, analysts anticipate that Shattuck Labs, Inc. will post -1.72 earnings per share for the current fiscal year.

Shattuck Labs Company Profile

Shattuck Labs, Inc, a clinical-stage biotechnology company, develops therapeutics for the treatment of cancer and autoimmune disease in the United States. The company's lead product candidate is SL-172154, which is in Phase 1 clinical trial for the treatment of ovarian, fallopian tube, and peritoneal cancers.