Shattuck Labs, Inc. $STTK Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its holdings in shares of Shattuck Labs, Inc. (NASDAQ:STTK) by 4.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,363,723 shares of the company’s stock after purchasing an additional 64,000 shares during the period. Pinnacle Associates Ltd. owned approximately 2.85% of Shattuck Labs worth $1,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STTK. AQR Capital Management LLC lifted its stake in Shattuck Labs by 265.4% during the first quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock valued at $41,000 after purchasing an additional 31,355 shares during the last quarter. Nuveen LLC acquired a new stake in Shattuck Labs during the first quarter valued at approximately $50,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Shattuck Labs during the first quarter valued at approximately $81,000. ADAR1 Capital Management LLC acquired a new stake in shares of Shattuck Labs during the first quarter valued at approximately $97,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Shattuck Labs during the second quarter valued at approximately $98,000. 58.74% of the stock is owned by institutional investors and hedge funds.

Shattuck Labs Stock Performance

Shattuck Labs stock opened at $1.99 on Tuesday. The firm has a market cap of $95.32 million, a PE ratio of -1.64 and a beta of 1.88. The firm’s 50 day moving average price is $1.92 and its two-hundred day moving average price is $1.27. Shattuck Labs, Inc. has a twelve month low of $0.69 and a twelve month high of $2.71.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.01. Equities analysts anticipate that Shattuck Labs, Inc. will post -1.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STTK. Weiss Ratings restated a “sell (d-)” rating on shares of Shattuck Labs in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Shattuck Labs from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Leerink Partners cut their price target on shares of Shattuck Labs from $4.00 to $2.00 and set an “outperform” rating on the stock in a report on Thursday, August 14th. Wedbush began coverage on shares of Shattuck Labs in a report on Monday, September 8th. They set an “outperform” rating and a $4.00 price target on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Shattuck Labs in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.00.

Insider Activity at Shattuck Labs

In other Shattuck Labs news, Director Mona Ashiya bought 6,306,127 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was bought at an average cost of $0.87 per share, with a total value of $5,486,330.49. Following the completion of the transaction, the director directly owned 5,255,106 shares of the company’s stock, valued at approximately $4,571,942.22. The trade was a -600.00% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Orbimed Advisors Llc bought 6,306,127 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $0.87 per share, with a total value of $5,486,330.49. Following the completion of the transaction, the director directly owned 5,255,106 shares of the company’s stock, valued at approximately $4,571,942.22. This represents a -600.00% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 12.00% of the company’s stock.

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.