The Manufacturers Life Insurance Company Buys New Stake in Shattuck Labs, Inc. (NASDAQ:STTK)

The Manufacturers Life Insurance Company purchased a new position in shares of Shattuck Labs, Inc. (NASDAQ:STTK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,425 shares of the company’s stock, valued at approximately $67,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Cannon Global Investment Management LLC bought a new position in shares of Shattuck Labs during the 1st quarter worth approximately $91,000. Virtu Financial LLC bought a new stake in shares of Shattuck Labs in the 1st quarter worth about $113,000. Acadian Asset Management LLC acquired a new stake in shares of Shattuck Labs during the 2nd quarter worth about $170,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Shattuck Labs during the 1st quarter worth about $174,000. Finally, Rhumbline Advisers bought a new position in Shattuck Labs during the 2nd quarter valued at about $182,000. 58.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on STTK shares. Needham & Company LLC cut shares of Shattuck Labs from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research note on Wednesday, October 2nd. Evercore ISI raised Shattuck Labs to a “strong-buy” rating in a report on Wednesday, October 2nd. HC Wainwright cut Shattuck Labs from a “buy” rating to a “neutral” rating in a report on Tuesday, October 1st. Finally, Citigroup lowered Shattuck Labs from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $8.00 to $2.00 in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.67.

Shattuck Labs Trading Down 7.4 %

Shares of NASDAQ STTK opened at $1.25 on Tuesday. Shattuck Labs, Inc. has a 1-year low of $1.07 and a 1-year high of $11.76. The company has a 50-day moving average of $2.91 and a two-hundred day moving average of $5.32. The company has a market cap of $59.44 million, a PE ratio of -0.65 and a beta of 1.72.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.01). The company had revenue of $1.61 million during the quarter, compared to the consensus estimate of $0.50 million. Shattuck Labs had a negative return on equity of 68.65% and a negative net margin of 2,067.99%. The business’s revenue was up 704.5% on a year-over-year basis. As a group, equities research analysts forecast that Shattuck Labs, Inc. will post -1.56 earnings per share for the current year.

Insider Activity

In other news, CEO Taylor Schreiber purchased 36,500 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were acquired at an average price of $1.21 per share, for a total transaction of $44,165.00. Following the completion of the acquisition, the chief executive officer now directly owns 71,002 shares in the company, valued at approximately $85,912.42. The trade was a 100.00 % 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. 10.50% of the stock is currently owned by insiders.

Shattuck Labs Company Profile

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.