Shattuck Labs (NASDAQ:STTK) Shares Gap Up – What’s Next?

Shattuck Labs, Inc. (NASDAQ:STTK)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $7.09, but opened at $7.35. Shattuck Labs shares last traded at $7.0710, with a volume of 141,151 shares.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Shattuck Labs from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Friday, June 5th. Wedbush increased their price objective on 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 began 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 objective on the stock in a report on Friday, June 5th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.62.

Shattuck Labs Trading Down 0.4%

The stock’s fifty day simple moving average is $5.94 and its 200 day simple moving average is $5.65. The company has a market cap of $541.36 million, a price-to-earnings ratio of -11.16 and a beta of 1.05.

Shattuck Labs (NASDAQ:STTK) last issued its earnings results 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 period last year, the firm earned ($0.27) EPS. On average, analysts predict that Shattuck Labs, Inc. will post -0.51 EPS for the current year.

Insider Buying and Selling

In other Shattuck Labs news, insider Arundathy N. Pandite sold 30,000 shares of the company’s stock in a transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Clay B. Siegall bought 62,500 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was bought at an average price of $4.00 per share, with a total value of $250,000.00. Following the completion of the acquisition, the director owned 318,608 shares in the company, valued at $1,274,432. This represents a 24.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 85,907 shares of company stock worth $591,850. 8.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. OMERS ADMINISTRATION Corp grew its holdings in shares of Shattuck Labs by 25.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock valued at $214,000 after purchasing an additional 6,800 shares during the period. The Manufacturers Life Insurance Company raised its stake in Shattuck Labs by 5.4% during the first quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock worth $915,000 after purchasing an additional 7,244 shares during the period. Virtu Financial LLC purchased a new position in Shattuck Labs during the third quarter worth about $38,000. Squarepoint Ops LLC purchased a new position in Shattuck Labs during the third quarter worth about $46,000. Finally, Dimensional Fund Advisors LP acquired a new position in Shattuck Labs in the 4th quarter valued at about $85,000. Institutional investors and hedge funds 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.