Shattuck Labs (NASDAQ:STTK) Stock Price Up 5.5% - Here's What Happened

Key Points

• Shattuck Labs shares rose 5.5% to about $7.95 in Monday trading, with the company valued at approximately $796 million.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating from 12 analysts, with an average price target of $12.78; Raymond James initiated coverage with a “Strong Buy” rating and an $18 target.
• Institutional investors own 58.74% of the company, while insiders own 8.79%. Shattuck is developing immunotherapeutic vaccines for substance-use disorders, with its lead program targeting fentanyl.

Shattuck Labs, Inc. (NASDAQ:STTK - Get Free Report)'s share price traded up 5.5% during trading on Monday . The company traded as high as $7.91 and last traded at $7.9450. 885,206 shares were traded during mid-day trading, a decline of 1% from the average session volume of 893,689 shares. The stock had previously closed at $7.53.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on STTK shares. Raymond James Financial assumed coverage on Shattuck Labs in a research report on Monday. They issued a "strong-buy" rating and a $18.00 price target for the company. Cantor Fitzgerald assumed coverage on shares of Shattuck Labs in a report on Monday, April 27th. They set an "overweight" rating on the stock. Citigroup raised shares of Shattuck Labs from a "neutral" rating to a "buy" rating and set a $7.00 price objective on the stock in a research report on Friday, June 5th. HC Wainwright decreased their price objective on shares of Shattuck Labs from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Tuesday, August 11th. Finally, Leerink Partners initiated coverage on Shattuck Labs in a research report on Monday, July 20th. They set an "outperform" rating and a $16.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $12.78.

Shattuck Labs Price Performance

The stock has a market capitalization of $795.58 million, a P/E ratio of -15.49 and a beta of 1.08. The stock's fifty day moving average price is $6.75 and its 200 day moving average price is $6.09.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.12). On average, sell-side analysts expect that Shattuck Labs, Inc. will post -0.43 earnings per share for the current year.

Insiders Place Their Bets

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 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 acquisition, 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 position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Abhinav A. Shukla sold 23,365 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total transaction of $165,424.20. Following the transaction, the insider owned 86,380 shares in the company, valued at approximately $611,570.40. The trade was a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 53,875 shares of company stock worth $379,305 in the last ninety days. 8.79% of the stock is owned by company insiders.

Hedge Funds Weigh In On Shattuck Labs

A number of large investors have recently bought and sold shares of the business. Orbimed Advisors LLC bought a new stake in Shattuck Labs during the third quarter valued at about $15,072,000. BlackRock Inc. purchased a new stake in shares of Shattuck Labs during the second quarter valued at about $27,315,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Shattuck Labs during the second quarter valued at about $26,025,000. NEXTBio Capital Management LP bought a new stake in shares of Shattuck Labs in the 4th quarter valued at about $11,497,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Shattuck Labs in the 4th quarter worth approximately $7,031,000. Institutional investors own 58.74% of the company's stock.

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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