Shattuck Labs (NASDAQ:STTK) Shares Down 6.6% - What's Next?

Key Points

• Shattuck Labs shares fell 6.6% in Friday trading, briefly touching $6.61, with volume far below normal at just 38,819 shares versus an average of 835,371.
• Analyst sentiment remains mostly positive, with nine Buy ratings and one Sell rating; the average target price is $11.00, though recent targets ranged from $7.00 to $18.00.
• Recent corporate activity was mixed: an insider sold shares to cover tax withholding, while Director Clay B. Siegall bought 62,500 shares, and institutional ownership remains high at 58.74%.

Shattuck Labs, Inc. (NASDAQ:STTK - Get Free Report) shares were down 6.6% during mid-day trading on Friday . The stock traded as low as $6.61 and last traded at $6.5670. 38,819 shares traded hands during trading, a decline of 95% from the average daily volume of 835,371 shares. The stock had previously closed at $7.03.

Analysts Set New Price Targets

A number of research analysts recently commented on STTK shares. Wall Street Zen raised Shattuck Labs from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Jefferies Financial Group raised shares of Shattuck Labs to an "outperform" rating and set a $7.00 target price on the stock in a report on Friday, June 5th. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Shattuck Labs in a research report on Monday, June 8th. Cantor Fitzgerald assumed coverage on shares of Shattuck Labs in a report on Monday, April 27th. They set an "overweight" rating for the company. Finally, Citigroup upgraded shares of Shattuck Labs from a "neutral" rating to a "buy" rating and set a $7.00 price target on the stock in a research report on Friday, June 5th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.00.

Shattuck Labs Stock Performance

The business's fifty day moving average is $5.91 and its 200-day moving average is $5.41. The firm has a market cap of $490.29 million, a P/E ratio of -10.07 and a beta of 1.05.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. During the same quarter in the prior year, the business earned ($0.27) EPS. Analysts predict that Shattuck Labs, Inc. will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling at Shattuck Labs

In related news, insider Abhinav A. Shukla sold 23,365 shares of Shattuck Labs stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total transaction of $165,424.20. Following the completion of the transaction, the insider owned 86,380 shares of the company's stock, 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 at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Clay B. Siegall bought 62,500 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average cost of $4.00 per share, with a total value of $250,000.00. Following the purchase, the director directly owned 318,608 shares of the company's stock, valued at $1,274,432. The trade was a 24.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 85,907 shares of company stock valued at $591,850. 8.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Shattuck Labs during the 3rd quarter valued at about $38,000. AQR Capital Management LLC lifted its stake in Shattuck Labs by 265.4% in the first quarter. AQR Capital Management LLC now owns 43,169 shares of the company's stock valued at $41,000 after buying an additional 31,355 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of Shattuck Labs during the 2nd quarter worth approximately $44,000. Squarepoint Ops LLC bought a new position in shares of Shattuck Labs during the 3rd quarter worth approximately $46,000. Finally, Bridgeway Capital Management LLC grew its position in shares of Shattuck Labs by 147.5% during the 2nd quarter. Bridgeway Capital Management LLC now owns 92,300 shares of the company's stock worth $73,000 after buying an additional 55,000 shares during the period. 58.74% of the stock is owned by institutional investors.

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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