The Manufacturers Life Insurance Company Makes New $67,000 Investment in Shattuck Labs, Inc. (NASDAQ:STTK)

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

A number of other large investors have also made changes to their positions in STTK. Vanguard Group Inc. grew its position in Shattuck Labs by 38.2% during the 1st quarter. Vanguard Group Inc. now owns 1,819,926 shares of the company’s stock worth $16,270,000 after purchasing an additional 502,860 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Shattuck Labs by 15.0% in the second quarter. Pinnacle Associates Ltd. now owns 599,423 shares of the company’s stock worth $2,314,000 after buying an additional 78,177 shares during the period. Renaissance Technologies LLC boosted its position in shares of Shattuck Labs by 83.1% in the second quarter. Renaissance Technologies LLC now owns 392,010 shares of the company’s stock worth $1,513,000 after buying an additional 177,910 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Shattuck Labs by 209.7% during the second quarter. Bank of New York Mellon Corp now owns 222,034 shares of the company’s stock valued at $857,000 after buying an additional 150,340 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in Shattuck Labs by 57.4% during the second quarter. Ritholtz Wealth Management now owns 142,540 shares of the company’s stock valued at $550,000 after buying an additional 52,000 shares during the period. Institutional investors and hedge funds own 58.74% of the company’s stock.

Shattuck Labs Price Performance

Shares of NASDAQ:STTK opened at $1.25 on Tuesday. The stock has a market capitalization of $59.44 million, a P/E ratio of -0.65 and a beta of 1.72. The business has a 50-day moving average of $2.91 and a two-hundred day moving average of $5.32. Shattuck Labs, Inc. has a fifty-two week low of $1.07 and a fifty-two week high of $11.76.

Shattuck Labs (NASDAQ:STTK) last posted its earnings results 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). Shattuck Labs had a negative return on equity of 68.65% and a negative net margin of 2,067.99%. The company had revenue of $1.61 million during the quarter, compared to analyst estimates of $0.50 million. The business’s quarterly revenue was up 704.5% on a year-over-year basis. As a group, research analysts expect that Shattuck Labs, Inc. will post -1.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Evercore ISI upgraded Shattuck Labs to a “strong-buy” rating in a research report on Wednesday, October 2nd. HC Wainwright lowered Shattuck Labs from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 1st. Citigroup lowered Shattuck Labs from a “buy” rating to a “neutral” rating and reduced their price target for the company from $8.00 to $2.00 in a report on Wednesday, October 2nd. Finally, Needham & Company LLC downgraded Shattuck Labs from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.67.

Insider Buying and Selling

In other news, CEO Taylor Schreiber purchased 36,500 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was bought at an average cost 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 of the company’s stock, 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 accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Shattuck Labs 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.