Shattuck Labs (NASDAQ:STTK) Shares Down 5.5% on Insider Selling

Shattuck Labs, Inc. (NASDAQ:STTK) was down 5.5% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $28.72 and last traded at $28.72. Approximately 4,573 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 148,475 shares. The stock had previously closed at $30.40.

Specifically, CFO Andrew R. Neill sold 20,000 shares of the stock in a transaction dated Wednesday, April 28th. The stock was sold at an average price of $35.00, for a total value of $700,000.00. Following the transaction, the chief financial officer now directly owns 51,103 shares of the company’s stock, valued at $1,788,605. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Taylor Schreiber sold 8,188 shares of the stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $26.98, for a total value of $220,912.24. Following the completion of the transaction, the chief executive officer now directly owns 5,274 shares in the company, valued at $142,292.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 224,507 shares of company stock valued at $6,315,990.

A number of brokerages have recently weighed in on STTK. Zacks Investment Research raised Shattuck Labs from a “sell” rating to a “hold” rating in a report on Tuesday, May 18th. Berenberg Bank began coverage on Shattuck Labs in a report on Wednesday, April 14th. They set a “buy” rating and a $47.00 target price on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Shattuck Labs has a consensus rating of “Buy” and an average price target of $45.60.

The stock’s fifty day moving average is $29.35. The firm has a market capitalization of $1.21 billion and a P/E ratio of -12.26.

Shattuck Labs (NASDAQ:STTK) last issued its quarterly earnings data on Monday, May 10th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.11. The business had revenue of $2.27 million during the quarter. On average, analysts forecast that Shattuck Labs, Inc. will post -1.37 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of Shattuck Labs in the fourth quarter valued at approximately $2,331,000. Rafferty Asset Management LLC purchased a new position in shares of Shattuck Labs in the first quarter valued at approximately $1,086,000. Investment Management of Virginia LLC purchased a new position in shares of Shattuck Labs in the first quarter valued at approximately $272,000. Northern Trust Corp purchased a new position in shares of Shattuck Labs in the fourth quarter valued at approximately $7,866,000. Finally, Credit Suisse AG purchased a new position in shares of Shattuck Labs in the fourth quarter valued at approximately $209,000. Institutional investors and hedge funds own 55.96% of the company’s stock.

About Shattuck Labs (NASDAQ:STTK)

Shattuck Labs, Inc, a clinical-stage biotechnology company, develops therapeutics for the treatment of cancer and autoimmune disease in the United States. The company's lead product candidate is SL-172154, which is in Phase 1 clinical trial for the treatment of ovarian, fallopian tube, and peritoneal cancers.

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