Shattuck Labs (NASDAQ:STTK) Releases Earnings Results, Hits Expectations

Key Points

• Shattuck Labs met earnings expectations, reporting a quarterly loss of $0.12 per share, in line with analysts’ consensus estimate.
• The stock rose 3.3% to $7.38, while institutional investors own 58.74% of shares. Recent insider activity was mixed, with a director buying $250,000 of stock and insiders selling $379,305 worth over the past three months.
• Analyst sentiment is broadly positive: ten analysts rate the stock a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $12.62.

Shattuck Labs (NASDAQ:STTK - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.12) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.12), FiscalAI reports.

Shattuck Labs Trading Up 3.3%

NASDAQ STTK opened at $7.38 on Tuesday. The firm's 50 day simple moving average is $6.22 and its 200 day simple moving average is $5.88. The firm has a market capitalization of $565.51 million, a price-to-earnings ratio of -11.65 and a beta of 1.08. Shattuck Labs has a 1 year low of $0.71 and a 1 year high of $8.33.

Insider Buying and Selling at Shattuck Labs

In other Shattuck Labs news, Director Clay B. Siegall bought 62,500 shares of the business's stock in a transaction on Tuesday, June 9th. The stock was purchased at an average cost of $4.00 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Arundathy N. Pandite sold 30,000 shares of the firm's stock in a transaction 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 approximately $954,895.19. This represents a 18.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,875 shares of company stock worth $379,305 over the last three months. Corporate insiders own 8.79% of the company's stock.

Institutional Trading of Shattuck Labs

Several large investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in Shattuck Labs during the third quarter worth about $38,000. Squarepoint Ops LLC acquired a new stake in shares of Shattuck Labs in the 3rd quarter valued at approximately $46,000. Dimensional Fund Advisors LP acquired a new stake in shares of Shattuck Labs in the 4th quarter valued at approximately $85,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Shattuck Labs during the 4th quarter valued at approximately $97,000. Finally, Invesco Ltd. bought a new stake in shares of Shattuck Labs during the 4th quarter valued at approximately $103,000. 58.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on STTK. Jefferies Financial Group upgraded shares of Shattuck Labs to an "outperform" rating and set a $7.00 price objective for the company in a research note on Friday, June 5th. Wall Street Zen upgraded shares of Shattuck Labs from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Weiss Ratings raised shares of Shattuck Labs from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, June 16th. Cantor Fitzgerald started coverage on shares of Shattuck Labs in a research report on Monday, April 27th. They issued an "overweight" rating for the company. Finally, Citigroup upgraded 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. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $12.62.

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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