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

Shattuck Labs, Inc. (NASDAQ:STTK)’s share 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on STTK shares. Wedbush lifted their price objective on Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Cantor Fitzgerald started coverage on Shattuck Labs in a research report on Monday, April 27th. They set an “overweight” rating on the stock. Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 price target on the stock in a research note on Friday, June 5th. JPMorgan Chase & Co. started coverage on Shattuck Labs in a report on Friday. They issued an “overweight” rating and a $10.00 price target for the company. Finally, Needham & Company LLC lifted their price target on Shattuck Labs from $14.00 to $17.00 and gave the company a “buy” rating in a report on Monday, June 8th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Shattuck Labs currently has a consensus rating of “Moderate Buy” and an average price target of $12.62.

Shattuck Labs Stock Performance

The stock’s fifty day simple moving average is $5.96 and its two-hundred day simple moving average is $5.66. The company has a market cap of $569.73 million, a price-to-earnings ratio of -11.79 and a beta of 1.05.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. During the same period last year, the company earned ($0.27) EPS. Analysts predict that Shattuck Labs, Inc. will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling at Shattuck Labs

In other news, Director Clay B. Siegall purchased 62,500 shares of the stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $4.00 per share, with a total value of $250,000.00. Following the completion of the transaction, the director owned 318,608 shares in the company, valued at approximately $1,274,432. The trade was a 24.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arundathy N. Pandite sold 30,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $7.01, for a total value of $210,300.00. Following the sale, the insider owned 136,219 shares of the company’s stock, valued at $954,895.19. This represents a 18.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 85,907 shares of company stock valued at $591,850. Company insiders own 8.79% of the company’s stock.

Institutional Trading of Shattuck Labs

A number of institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in Shattuck Labs by 5.4% in the first quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock valued at $915,000 after buying an additional 7,244 shares during the period. OMERS ADMINISTRATION Corp lifted its position in Shattuck Labs by 25.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock valued at $214,000 after buying an additional 6,800 shares in the last quarter. Renaissance Technologies LLC grew its stake in Shattuck Labs by 77.4% during the first quarter. Renaissance Technologies LLC now owns 604,500 shares of the company’s stock worth $3,887,000 after buying an additional 263,800 shares during the period. Dimensional Fund Advisors LP grew its stake in Shattuck Labs by 571.1% during the first quarter. Dimensional Fund Advisors LP now owns 155,642 shares of the company’s stock worth $1,001,000 after buying an additional 132,450 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in Shattuck Labs during the first quarter worth approximately $421,000. 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.