227,071 Shares in Shattuck Labs, Inc. $STTK Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company purchased a new position in Shattuck Labs, Inc. (NASDAQ:STTK) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 227,071 shares of the company’s stock, valued at approximately $1,576,000.

Several other hedge funds have also added to or reduced their stakes in STTK. Orbimed Advisors LLC purchased a new stake in Shattuck Labs during the third quarter valued at about $15,072,000. BlackRock Inc. purchased a new position in shares of Shattuck Labs in the second quarter worth about $27,315,000. NEXTBio Capital Management LP bought a new stake in shares of Shattuck Labs in the 4th quarter valued at about $11,497,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Shattuck Labs in the 4th quarter valued at about $7,031,000. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in Shattuck Labs during the 4th quarter valued at about $4,945,000. 58.74% of the stock is owned by institutional investors.

Shattuck Labs Stock Up 0.7%

Shares of STTK stock opened at $6.96 on Friday. The stock has a market cap of $698.51 million, a price-to-earnings ratio of -13.65 and a beta of 1.09. The business’s fifty day moving average is $7.15 and its 200 day moving average is $6.31. Shattuck Labs, Inc. has a twelve month low of $1.19 and a twelve month high of $8.33.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). Equities research analysts expect that Shattuck Labs, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Transactions at Shattuck Labs

In other Shattuck Labs news, Director Clay Siegall purchased 62,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average cost of $4.00 per share, for a total transaction of $250,000.00. Following the purchase, the director directly owned 318,608 shares in the company, valued at $1,274,432. The trade was a 24.40% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Abhinav Shukla sold 23,365 shares of Shattuck Labs stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $7.08, for a total transaction 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. This trade represents a 21.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 53,875 shares of company stock valued at $379,305 in the last three months. 8.79% of the stock is currently owned by company insiders.

Analyst Ratings Changes

STTK has been the topic of a number of analyst reports. HC Wainwright decreased their price target on Shattuck Labs from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. TD Cowen upgraded shares of Shattuck Labs to a “strong-buy” rating in a report on Monday, August 24th. Leerink Partners started coverage on shares of Shattuck Labs in a research note on Monday, July 20th. They set an “outperform” rating and a $16.00 target price on the stock. Raymond James Financial assumed coverage on shares of Shattuck Labs in a research report on Monday, August 24th. They set a “strong-buy” rating and a $18.00 price target on the stock. Finally, Needham & Company LLC boosted their price target on shares of Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Shattuck Labs has a consensus rating of “Buy” and a consensus price target of $12.78.

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.