Shattuck Labs, Inc. (NASDAQ:STTK) Sees Large Increase in Short Interest

Shattuck Labs, Inc. (NASDAQ:STTK) was the target of a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,028,366 shares, a growth of 38.5% from the December 15th total of 742,537 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average trading volume of 452,295 shares, the days-to-cover ratio is currently 2.3 days. Based on an average trading volume of 452,295 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.8% of the shares of the company are short sold.

Shattuck Labs Stock Up 3.8%

Shares of NASDAQ:STTK opened at $4.64 on Monday. Shattuck Labs has a fifty-two week low of $0.69 and a fifty-two week high of $4.89. The firm’s 50-day simple moving average is $3.07 and its 200-day simple moving average is $2.03. The company has a market cap of $293.62 million, a price-to-earnings ratio of -4.55 and a beta of 1.53.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The firm had revenue of $1.00 million during the quarter. On average, research analysts forecast that Shattuck Labs will post -1.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. HC Wainwright upgraded shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shattuck Labs in a report on Wednesday, October 8th. Finally, Citigroup raised their price target on Shattuck Labs from $2.00 to $4.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Orbimed Advisors LLC acquired a new stake in Shattuck Labs in the third quarter valued at $15,072,000. Pinnacle Associates Ltd. increased its holdings in shares of Shattuck Labs by 1.8% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,388,723 shares of the company’s stock valued at $3,319,000 after purchasing an additional 25,000 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Shattuck Labs by 2,968.2% in the third quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock valued at $2,705,000 after purchasing an additional 1,094,997 shares during the period. 683 Capital Management LLC lifted its stake in shares of Shattuck Labs by 4.3% in the second quarter. 683 Capital Management LLC now owns 1,095,000 shares of the company’s stock valued at $867,000 after purchasing an additional 45,000 shares during the period. Finally, Aberdeen Group plc boosted its holdings in Shattuck Labs by 462.1% during the fourth quarter. Aberdeen Group plc now owns 531,177 shares of the company’s stock worth $1,939,000 after buying an additional 436,673 shares in the last quarter. Hedge funds and other institutional investors own 58.74% of the company’s stock.

About Shattuck Labs

Shattuck Labs, Inc (NASDAQ: STTK) is a clinical‐stage biotechnology company headquartered in Cambridge, Massachusetts. The company is focused on developing immunotherapeutic vaccines to prevent and treat substance use disorders, with an initial emphasis on opioids. Shattuck Labs employs a proprietary hapten‐carrier conjugate technology designed to generate high‐affinity drug‐specific antibodies that sequester target molecules in the bloodstream and reduce their passage across the blood‐brain barrier.

The company’s lead program targets fentanyl, a synthetic opioid responsible for a significant proportion of overdose fatalities.