Redmile Group Sells ~1.95M Shares of Shattuck Labs, Reducing Stake After Recent Offering
STTK has more than doubled off its 52-week low of $0.712 on elevated volume (2.5× avg).
Summary
Redmile Group sold ~1.95M shares of Shattuck Labs for ~$12.5M, reducing its stake weeks after participating in a dilutive offering. A small purchase partially offsets sales, but the net disposition signals reduced conviction from a key institutional backer.
Key Events · Ownership and Investor Activity · STTK
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Redmile Sells ~1.95M Shares
Between July 10-17, 2026, Redmile sold 1,948,851 shares at prices ranging from $6.265 to $7.62, generating approximately $12.5 million in proceeds.
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Stake Reduction After Recent Offering
The sales follow Redmile's June 2026 increase to 9.9% ownership via a $8.4M+ investment in the company's public offering. The selling reduces Redmile's beneficial ownership to 9.9% (due to increased outstanding shares), but actual shares held dropped significantly.
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Partial Offset Purchase
Redmile purchased 143,808 shares on July 17 at $7.46 (~$1.07M), partially offsetting the sales but not changing the net negative disposition.
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Context: Positive Data and Cash Runway
The selling occurs despite Shattuck Labs' positive Phase 1 data for SL-325 in June 2026 and a cash runway extended into 2029, raising questions about Redmile's conviction.
Analysis · STTK · Life Sciences
Redmile Group, a major institutional investor, sold approximately 1.95 million shares of Shattuck Labs between July 10-17, 2026, at prices ranging from $6.265 to $7.62, generating roughly $12.5 million in proceeds. This selling spree comes just weeks after Redmile increased its stake to 9.9% in June 2026 by participating in the company's $86.25 million public offering. The sales reduce Redmile's beneficial ownership from 9.9% to 9.9% (due to an increased share count from the offering), but the actual number of shares held dropped significantly. A small purchase of 143,808 shares on July 17 at $7.46 partially offsets the sales, but the net disposition signals a shift in conviction from a key backer. For a biotech with a $680 million market cap, this level of selling by a sophisticated life sciences investor raises questions about near-term prospects, especially following positive Phase 1 data and a cash runway into 2029.
How filings like this one have moved
In the 30 days to Sep 16, 2026, 35.8% of the 1190 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.45%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, STTK was trading at $7.09 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $680.5M. The 52-week trading range was $0.71 to $8.33. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.