Shattuck Labs (NASDAQ:STTK) Shares Gap Up - Here's Why

Key Points

• Shattuck Labs (NASDAQ: STTK) gapped up at the open after closing at $7.09 and opening at $7.35, reflecting a short-term boost in trading sentiment.
• Recent analyst coverage has been generally positive: JPMorgan initiated with an overweight rating and a $10 target, while the overall consensus remains Moderate Buy with an average price target of $12.62.
• The company recently reported a smaller-than-expected quarterly loss of ($0.13) EPS versus estimates of ($0.14), while insider activity has been mixed, including a notable purchase by Director Clay B. Siegall and sales by another insider.

Shattuck Labs, Inc. (NASDAQ:STTK - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $7.09, but opened at $7.35. Shattuck Labs shares last traded at $7.0710, with a volume of 141,151 shares traded.

Analyst Ratings Changes

STTK has been the topic of several recent research reports. Wall Street Zen raised shares of Shattuck Labs from a "hold" rating to a "buy" rating in a 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. HC Wainwright restated a "buy" rating and set a $18.00 target price on shares of Shattuck Labs in a research report on Monday, June 8th. JPMorgan Chase & Co. initiated coverage on shares of Shattuck Labs in a research report on Friday. They set an "overweight" rating and a $10.00 target price for the company. Finally, Wedbush upped their price target on shares of Shattuck Labs from $8.00 to $11.00 and gave the company an "outperform" rating in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $12.62.

Shattuck Labs Stock Performance

The firm has a market cap of $541.36 million, a price-to-earnings ratio of -11.16 and a beta of 1.05. The business's 50 day moving average price is $5.94 and its 200 day moving average price is $5.65.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. During the same quarter last year, the firm earned ($0.27) earnings per share. Sell-side analysts anticipate that Shattuck Labs, Inc. will post -0.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Shattuck Labs

In other news, Director Clay B. Siegall acquired 62,500 shares of the business's stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $4.00 per share, with a total value of $250,000.00. Following the completion of the acquisition, the director owned 318,608 shares of the company's stock, valued at approximately $1,274,432. This represents a 24.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Arundathy N. Pandite sold 30,000 shares of the company's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $6.61, for a total transaction of $198,300.00. Following the completion of the transaction, the insider owned 166,219 shares of the company's stock, valued at approximately $1,098,707.59. This trade represents a 15.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 85,907 shares of company stock valued at $591,850. Corporate insiders own 8.79% of the company's stock.

Hedge Funds Weigh In On Shattuck Labs

Large investors have recently bought and sold shares of the business. OMERS ADMINISTRATION Corp grew its position in shares of Shattuck Labs by 25.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company's stock valued at $214,000 after purchasing an additional 6,800 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Shattuck Labs by 5.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company's stock worth $915,000 after purchasing an additional 7,244 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Shattuck Labs during the 3rd quarter worth about $38,000. Squarepoint Ops LLC purchased a new position in Shattuck Labs in the 3rd quarter valued at about $46,000. Finally, Dimensional Fund Advisors LP purchased a new position in Shattuck Labs in the 4th quarter valued at about $85,000. Institutional investors and hedge funds own 58.74% of the company's stock.

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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