Shattuck Labs (NASDAQ:STTK) Issues Quarterly Earnings Results, Meets Estimates

Shattuck Labs (NASDAQ:STTK) issued its quarterly earnings results on Tuesday. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12), FiscalAI reports.

Shattuck Labs Stock Down 0.7%

Shares of NASDAQ:STTK traded down $0.05 during midday trading on Thursday, hitting $7.44. 228,824 shares of the stock traded hands, compared to its average volume of 903,515. The business’s 50 day moving average is $6.32 and its two-hundred day moving average is $5.92. The stock has a market capitalization of $570.50 million, a PE ratio of -14.56 and a beta of 1.08. Shattuck Labs has a one year low of $0.79 and a one year high of $8.33.

Insider Buying and Selling at Shattuck Labs

In other Shattuck Labs news, insider Arundathy N. Pandite sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $7.01, for a total transaction of $210,300.00. Following the sale, the insider owned 136,219 shares in the company, valued at approximately $954,895.19. This trade represents a 18.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Abhinav A. Shukla sold 23,365 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was 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 approximately $611,570.40. The trade was a 21.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 53,875 shares of company stock worth $379,305. 8.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Shattuck Labs

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Shattuck Labs during the third quarter worth about $38,000. AQR Capital Management LLC grew its holdings in Shattuck Labs by 265.4% during the 1st 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 in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Shattuck Labs during the second quarter valued at approximately $44,000. Squarepoint Ops LLC purchased a new position in Shattuck Labs during the third quarter valued at $46,000. Finally, Bridgeway Capital Management LLC increased its holdings in Shattuck Labs by 147.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 92,300 shares of the company’s stock valued at $73,000 after acquiring an additional 55,000 shares during the last quarter. 58.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

STTK has been the topic of several research reports. 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. Weiss Ratings upgraded shares of Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. JPMorgan Chase & Co. assumed coverage on shares of Shattuck Labs in a report on Friday, July 24th. They issued an “overweight” rating and a $10.00 target price on the stock. Wedbush boosted their target price on shares of Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Finally, Needham & Company LLC upped their price target on shares of Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Shattuck Labs has a consensus rating of “Moderate Buy” and a consensus target price of $12.12.

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.