683 Capital Management LLC Sells 142,216 Shares of Shattuck Labs, Inc. $STTK

683 Capital Management LLC lessened its stake in shares of Shattuck Labs, Inc. (NASDAQ:STTK) by 9.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,390,000 shares of the company’s stock after selling 142,216 shares during the period. 683 Capital Management LLC’s holdings in Shattuck Labs were worth $5,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of STTK. Orbimed Advisors LLC acquired a new stake in Shattuck Labs during the 3rd quarter valued at $15,072,000. NEXTBio Capital Management LP acquired a new stake in Shattuck Labs during the 4th quarter valued at $11,497,000. Price T Rowe Associates Inc. MD acquired a new stake in Shattuck Labs during the 4th quarter valued at $7,031,000. Bank of America Corp DE increased its holdings in Shattuck Labs by 2,968.2% during the 3rd quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock valued at $2,705,000 after purchasing an additional 1,094,997 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in Shattuck Labs during the 4th quarter valued at $1,849,000. Institutional investors own 58.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on STTK. Needham & Company LLC raised 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. TD Cowen reissued a “buy” rating on shares of Shattuck Labs in a research note on Friday, March 6th. Wall Street Zen raised Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Wedbush lifted their target price on Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings cut Shattuck Labs from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.00.

Insider Transactions at Shattuck Labs

In other news, Director Clay B. Siegall purchased 62,500 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $4.00 per share, for a total transaction of $250,000.00. Following the completion of the acquisition, the director directly owned 318,608 shares in the company, valued at approximately $1,274,432. This trade represents a 24.40% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arundathy N. Pandite sold 30,000 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $6.61, for a total value of $198,300.00. Following the completion of the sale, the insider owned 166,219 shares in the company, valued at approximately $1,098,707.59. This trade represents a 15.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 8.79% of the company’s stock.

Shattuck Labs Trading Up 9.5%

NASDAQ:STTK opened at $4.74 on Thursday. Shattuck Labs, Inc. has a 1 year low of $0.71 and a 1 year high of $8.33. The stock has a market cap of $363.46 million, a price-to-earnings ratio of -7.52 and a beta of 1.08. The stock has a 50-day moving average price of $6.23 and a two-hundred day moving average price of $5.02.

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