Insider Selling: Shattuck Labs (NASDAQ:STTK) Insider Sells $165,424.20 in Stock

Shattuck Labs, Inc. (NASDAQ:STTK) insider Abhinav Shukla sold 23,365 shares of Shattuck Labs stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $7.08, for a total value of $165,424.20. Following the completion of the sale, the insider owned 86,380 shares in the company, valued at approximately $611,570.40. This represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Shattuck Labs Price Performance

STTK stock traded up $0.54 during trading on Thursday, reaching $7.05. The company had a trading volume of 908,799 shares, compared to its average volume of 1,941,862. Shattuck Labs, Inc. has a 52 week low of $0.71 and a 52 week high of $8.33. The business has a 50 day moving average of $5.97 and a 200 day moving average of $5.26. The company has a market cap of $540.59 million, a P/E ratio of -11.19 and a beta of 1.05.

Shattuck Labs (NASDAQ:STTK) last announced its earnings results on Thursday, May 7th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. During the same quarter in the prior year, the firm posted ($0.27) EPS. Research analysts expect that Shattuck Labs, Inc. will post -0.51 earnings per share for the current year.

Analysts Set New Price Targets

STTK has been the subject of several research reports. Jefferies Financial Group raised shares of Shattuck Labs to an “outperform” rating and set a $7.00 price objective for the company in a report on Friday, June 5th. 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 note on Friday, May 8th. Cantor Fitzgerald started coverage on Shattuck Labs in a report on Monday, April 27th. They set an “overweight” rating on the stock. Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Friday, June 5th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Shattuck Labs in a report on Friday, March 6th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Institutional Trading of Shattuck Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in STTK. Virtu Financial LLC purchased a new stake in Shattuck Labs during the 3rd quarter valued at approximately $38,000. Squarepoint Ops LLC bought a new stake in shares of Shattuck Labs in the 3rd quarter worth about $46,000. Mallini Complete Financial Planning LLC bought a new position in shares of Shattuck Labs during the fourth quarter valued at approximately $83,000. Dimensional Fund Advisors LP purchased a new position in Shattuck Labs in the 4th quarter worth about $85,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Shattuck Labs during the 4th quarter valued at $97,000. Institutional investors own 58.74% of the company’s stock.

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.