Shattuck Labs (NASDAQ:STTK) Sees Large Volume Increase – Should You Buy?

Shattuck Labs, Inc. (NASDAQ:STTK) saw unusually-strong trading volume on Wednesday . Approximately 2,726,097 shares traded hands during trading, an increase of 216% from the previous session’s volume of 861,683 shares.The stock last traded at $6.5990 and had previously closed at $6.29.

Analyst Ratings Changes

A number of brokerages have issued reports on STTK. 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 upgraded Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. Wedbush increased their price objective on Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Cantor Fitzgerald assumed coverage on Shattuck Labs in a research note on Monday, April 27th. They issued an “overweight” rating for the company. Finally, Jefferies Financial Group upgraded Shattuck Labs to an “outperform” rating and set a $7.00 price target on the stock in a research report on Friday, June 5th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Shattuck Labs has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Shattuck Labs Trading Up 4.8%

The stock has a market cap of $505.70 million, a PE ratio of -10.46 and a beta of 1.05. The firm has a fifty day simple moving average of $5.88 and a two-hundred day simple moving average of $5.47.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. Equities analysts forecast that Shattuck Labs, Inc. will post -0.51 earnings per share for the current year.

Insider Transactions at Shattuck Labs

In other news, insider Abhinav A. Shukla sold 23,365 shares of the firm’s 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 sale, the insider owned 86,380 shares in the company, valued at approximately $611,570.40. This trade represents a 21.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Clay B. Siegall acquired 62,500 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $4.00 per share, with a total value of $250,000.00. Following the completion of the acquisition, the director directly owned 318,608 shares in the company, valued at $1,274,432. The trade was a 24.40% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 85,907 shares of company stock valued at $591,850 in the last quarter. Insiders own 8.79% of the company’s stock.

Hedge Funds Weigh In On Shattuck Labs

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of 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. Jacobs Levy Equity Management Inc. bought a new position in Shattuck Labs during the first quarter valued at approximately $81,000. Acadian Asset Management LLC raised its stake in shares of Shattuck Labs by 27.6% during the first quarter. Acadian Asset Management LLC now owns 257,345 shares of the company’s stock worth $243,000 after acquiring an additional 55,687 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Shattuck Labs in the 2nd quarter worth approximately $44,000. Finally, Jane Street Group LLC lifted its holdings in shares of Shattuck Labs by 2,510.8% in the 2nd quarter. Jane Street Group LLC now owns 289,671 shares of the company’s stock worth $229,000 after acquiring an additional 278,576 shares during the last quarter. 58.74% of the stock is currently owned by hedge funds and other institutional investors.

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.