Categories: Insider Trading News

Shattuck Labs sees $166,713 in inventory gross sales by Redmile Group


Shattuck Labs, Inc. (NASDAQ:STTK), a biotechnology firm with a market capitalization of $61.6 million, lately reported a sequence of inventory transactions involving Redmile Group, LLC, a big shareholder. On December 4, 2024, Redmile Group executed a sale of 133,371 shares of Shattuck Labs’ frequent inventory at a value of $1.25 per share, totaling roughly $166,713. In keeping with InvestingPro information, the inventory has proven important volatility, with the worth falling over 82% previously six months.

Along with the gross sales, Redmile additionally acquired an equal variety of shares on the identical day, sustaining their general possession stage. These transactions had been a part of cross trades carried out by non-public funding autos managed by Redmile.

The reported transactions resulted in no revenue to Redmile or Jeremy Inexperienced, the principal of Redmile, as a result of simultaneous nature of the buys and sells on the similar value. Following these transactions, Redmile holds 5,409,353 shares not directly, as famous within the submitting.

In different current information, Shattuck Labs has skilled important adjustments in its analysis and growth focus. The biotechnology firm has determined to discontinue its SL-172154 drug for hematologic malignancies, regardless of some incremental advantages in general response price and median general survival. The choice got here after reviewing its pipeline, and the agency will now reallocate sources to an autoimmune-focused pipeline. This strategic shift has led H.C. Wainwright to downgrade the corporate’s inventory from Purchase to Impartial.

Shattuck Labs additionally terminated a collaboration settlement with Ono Pharmaceutical (TADAWUL:2070) Co., which won’t have an effect on the event of SL-325. Analysts from TD Cowen and H.C. Wainwright have reiterated their Purchase rankings on Shattuck Labs, signaling confidence within the firm’s long-term prospects regardless of the current program cessation. Nonetheless, BTIG analysts maintained a Impartial score, emphasizing the necessity for randomized trial information.

The corporate’s SL-172154 had beforehand acquired an orphan drug designation from the U.S. Meals and Drug Administration, doubtlessly accelerating the drug’s growth. Shattuck Labs is now planning to file an Investigational New Drug utility for SL-325, an anti-DR3 monoclonal antibody, within the third quarter of 2025. This strategic pivot is predicted to increase the corporate’s money runway into 2027.

This text was generated with the assist of AI and reviewed by an editor. For extra info see our T&C.

admin

Share
Published by
admin

Recent Posts

Europe’s shares in longest weekly profitable streak for nearly 5 months

By Shashwat Chauhan and Pranav Kashyap (Reuters) - European shares ended on a optimistic notice…

6 minutes ago

US inventory market: This autumn earnings season preview

Investing.com -- UBS forecasts the S&P 500 to see an 8.4% year-over-year enhance in earnings…

21 minutes ago

Quantum corp CFO Kenneth Gianella sells $53,056 in inventory

Kenneth P. Gianella, Chief Monetary Officer of Quantum Corp (NASDAQ:QMCO), bought 1,487 shares of the…

36 minutes ago

Spotify’s SWOT evaluation: streaming big faces progress hurdles amid enlargement

Spotify Know-how S.A. (NYSE:SPOT), the world's main audio streaming platform with a market capitalization of…

51 minutes ago

Wells Fargo companies, Merrill Lynch to pay $60 million to settle SEC expenses

By Chris Prentice (Reuters) -Merrill Lynch and two Wells Fargo (NYSE:WFC) advisory companies have agreed…

56 minutes ago

On-line Journey business outlook for 2025: Which shares to purchase

Investing.com -- The net journey business enters 2025 with combined prospects, with analysts at Barclays (LON:BARC)…

1 hour ago