Shattuck Labs, Inc. (NASDAQ:STTK) Sees Significant Decrease in Short Interest

Shattuck Labs, Inc. (NASDAQ:STTK) was the recipient of a large drop in short interest in February. As of February 27th, there was short interest totaling 1,604,787 shares, a drop of 16.5% from the February 12th total of 1,921,827 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily volume of 294,628 shares, the days-to-cover ratio is currently 5.4 days. Based on an average daily volume of 294,628 shares, the days-to-cover ratio is currently 5.4 days. Approximately 2.5% of the shares of the stock are short sold.

Shattuck Labs Stock Down 1.2%

Shares of Shattuck Labs stock opened at $5.95 on Wednesday. Shattuck Labs has a 12-month low of $0.69 and a 12-month high of $6.26. The firm has a market capitalization of $425.81 million, a PE ratio of -7.73 and a beta of 1.55. The stock’s fifty day moving average is $4.49 and its 200-day moving average is $3.10.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings results on Thursday, March 5th. The company reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12). The company had revenue of ($1.00) million during the quarter, compared to analyst estimates of $0.17 million. Analysts expect that Shattuck Labs will post -1.48 EPS for the current year.

Hedge Funds Weigh In On Shattuck Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in Shattuck Labs in the 3rd quarter worth about $29,000. Virtu Financial LLC purchased a new position in Shattuck Labs during the 3rd quarter valued at about $38,000. Squarepoint Ops LLC purchased a new position in Shattuck Labs during the 3rd quarter valued at about $46,000. Mallini Complete Financial Planning LLC acquired a new position in shares of Shattuck Labs in the 4th quarter valued at about $83,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Shattuck Labs in the 4th quarter valued at about $85,000. Institutional investors and hedge funds own 58.74% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. HC Wainwright upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a report on Monday, December 1st. Wedbush upped their price target on shares of Shattuck Labs from $4.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, March 6th. TD Cowen restated a “buy” rating on shares of Shattuck Labs in a research report on Friday, March 6th. Needham & Company LLC started coverage on shares of Shattuck Labs in a report on Friday, March 6th. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Piper Sandler began coverage on shares of Shattuck Labs in a research note on Wednesday, January 28th. They set an “overweight” rating and a $15.00 target price for the company. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Shattuck Labs Company Profile

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.