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

Shattuck Labs, Inc. (NASDAQ:STTK) was the target of a large decrease in short interest in February. As of February 13th, there was short interest totaling 1,921,827 shares, a decrease of 14.7% from the January 29th total of 2,251,778 shares. Based on an average daily volume of 334,601 shares, the days-to-cover ratio is presently 5.7 days. Currently, 3.5% of the company’s stock are short sold. Currently, 3.5% of the company’s stock are short sold. Based on an average daily volume of 334,601 shares, the days-to-cover ratio is presently 5.7 days.

Institutional Investors Weigh In On Shattuck Labs

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

Shattuck Labs Price Performance

Shattuck Labs stock opened at $5.10 on Friday. Shattuck Labs has a fifty-two week low of $0.69 and a fifty-two week high of $5.20. The firm has a market capitalization of $322.73 million, a PE ratio of -5.00 and a beta of 1.55. The company’s 50-day moving average is $4.12 and its 200-day moving average is $2.79.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings results on Thursday, March 5th. The company reported ($0.12) earnings per share for the quarter. The business had revenue of ($1.00) million during the quarter. As a group, analysts expect that Shattuck Labs will post -1.48 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on STTK shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shattuck Labs in a research note on Thursday, January 22nd. Piper Sandler began coverage on shares of Shattuck Labs in a report on Wednesday, January 28th. They set an “overweight” rating and a $15.00 price objective on the stock. HC Wainwright raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Monday, December 1st. Finally, Citigroup upped their target price on shares of Shattuck Labs from $2.00 to $4.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Shattuck Labs presently has a consensus rating of “Hold” and a consensus price target of $6.20.

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.