Shattuck Labs, Inc. $STTK Stock Holdings Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its holdings in shares of Shattuck Labs, Inc. (NASDAQ:STTK) by 77.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 604,500 shares of the company’s stock after buying an additional 263,800 shares during the period. Renaissance Technologies LLC owned 0.79% of Shattuck Labs worth $3,887,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of STTK. Orbimed Advisors LLC bought a new position in Shattuck Labs in the third quarter worth about $15,072,000. NEXTBio Capital Management LP acquired a new stake in shares of Shattuck Labs during the 4th quarter worth approximately $11,497,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Shattuck Labs during the 4th quarter worth approximately $7,031,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Shattuck Labs in the 4th quarter worth approximately $4,945,000. Finally, Bank of America Corp DE lifted its holdings in shares of Shattuck Labs by 2,968.2% in the 3rd quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock worth $2,705,000 after purchasing an additional 1,094,997 shares during the last quarter. Institutional investors and hedge funds own 58.74% of the company’s stock.

Insider Activity

In other Shattuck Labs news, insider Arundathy N. Pandite sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $6.61, for a total value of $198,300.00. Following the completion of the sale, the insider directly owned 166,219 shares in the company, valued at $1,098,707.59. This represents a 15.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Abhinav A. Shukla sold 23,365 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total value of $165,424.20. Following the transaction, the insider directly 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. Insiders sold 85,907 shares of company stock worth $591,850 over the last three months. Corporate insiders own 8.79% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on STTK. Wall Street Zen upgraded Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. initiated coverage on shares of Shattuck Labs in a research report on Friday, July 24th. They set an “overweight” rating and a $10.00 price target for the company. Jefferies Financial Group raised shares of Shattuck Labs to an “outperform” rating and set a $7.00 price objective on the stock in a report on Friday, June 5th. Leerink Partners started coverage on Shattuck Labs in a report on Monday, July 20th. They set an “outperform” rating and a $16.00 price target on the stock. Finally, Weiss Ratings upgraded Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 16th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Shattuck Labs has a consensus rating of “Moderate Buy” and an average target price of $12.62.

Shattuck Labs Stock Up 1.5%

Shares of NASDAQ STTK opened at $7.27 on Friday. Shattuck Labs, Inc. has a fifty-two week low of $0.71 and a fifty-two week high of $8.33. The firm’s 50-day simple moving average is $6.19 and its 200 day simple moving average is $5.85. The stock has a market cap of $557.46 million, a P/E ratio of -11.54 and a beta of 1.08.

Shattuck Labs (NASDAQ:STTK) last announced its earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. During the same quarter in the prior year, the business posted ($0.27) earnings per share. On average, sell-side analysts anticipate that Shattuck Labs, Inc. will post -0.5 earnings per share for the current fiscal year.

Shattuck Labs 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.