Prosight Management LP Decreases Position in Shattuck Labs, Inc. $STTK

Prosight Management LP reduced its stake in shares of Shattuck Labs, Inc. (NASDAQ:STTK) by 17.9% during the third quarter, Holdings Channel reports. The institutional investor owned 5,451,195 shares of the company’s stock after selling 1,187,740 shares during the quarter. Shattuck Labs comprises 3.0% of Prosight Management LP’s portfolio, making the stock its 14th biggest holding. Prosight Management LP owned 0.11% of Shattuck Labs worth $13,028,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Jane Street Group LLC lifted its stake 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 valued at $229,000 after acquiring an additional 278,576 shares during the last quarter. Aberdeen Group plc purchased a new position in Shattuck Labs in the 3rd quarter worth approximately $226,000. Jacobs Levy Equity Management Inc. purchased a new position in Shattuck Labs in the 1st quarter worth approximately $81,000. LBJ Family Wealth Advisors Ltd. bought a new stake in Shattuck Labs in the third quarter valued at approximately $196,000. Finally, Acadian Asset Management LLC boosted 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 valued at $243,000 after purchasing an additional 55,687 shares during the period. Hedge funds and other institutional investors own 58.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on STTK. Citigroup lifted their target price on shares of Shattuck Labs from $4.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday. Needham & Company LLC started coverage on shares of Shattuck Labs in a report on Friday, March 6th. They issued a “buy” rating and a $25.00 price target on the stock. Wedbush upped their price objective on shares of Shattuck Labs from $4.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. HC Wainwright raised Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Monday, December 1st. Finally, TD Cowen reiterated a “buy” rating on shares of Shattuck Labs in a research report on Friday, March 6th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Shattuck Labs Trading Down 2.3%

Shares of STTK stock opened at $5.99 on Friday. The company’s fifty day moving average price is $4.41 and its 200-day moving average price is $3.00. The stock has a market cap of $428.64 million, a PE ratio of -7.78 and a beta of 1.55. Shattuck Labs, Inc. has a 12 month low of $0.69 and a 12 month high of $6.25.

Shattuck Labs (NASDAQ:STTK) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The business had revenue of ($1.00) million for the quarter, compared to analysts’ expectations of $0.17 million. On average, sell-side analysts forecast that Shattuck Labs, Inc. will post -1.48 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.