Shattuck Labs’ (NASDAQ:STTK) quiet period is set to end on Wednesday, November 18th. Shattuck Labs had issued 11,882,352 shares in its initial public offering on October 9th. The total size of the offering was $201,999,984 based on an initial share price of $17.00. During Shattuck Labs’ quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of research analysts have issued reports on the company. Smith Barney Citigroup assumed coverage on Shattuck Labs in a research note on Tuesday, November 3rd. They issued a “buy” rating and a $36.00 target price for the company. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on Shattuck Labs in a report on Tuesday, November 3rd. They issued a “buy” rating and a $36.00 price target on the stock. Cowen initiated coverage on Shattuck Labs in a report on Tuesday, November 3rd. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC initiated coverage on Shattuck Labs in a report on Tuesday, November 3rd. They issued a “buy” rating and a $34.00 price target on the stock.
Shares of Shattuck Labs stock opened at $32.26 on Wednesday. Shattuck Labs has a one year low of $17.51 and a one year high of $34.43.
Shattuck Labs (NASDAQ:STTK) last issued its quarterly earnings results on Friday, November 13th. The company reported ($1.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($1.19).
In related news, Director Redmile Group, Llc bought 3,441,176 shares of the company’s stock in a transaction that occurred on Wednesday, October 14th. The shares were acquired at an average price of $17.34 per share, for a total transaction of $59,669,991.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
About Shattuck Labs
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 cancer. It also holds a collaboration agreement with Takeda Pharmaceuticals to develop SL-279252 that is in Phase 1 clinical trial in patients with advanced solid tumors and lymphoma.
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