Short Interest in Shattuck Labs, Inc. (NASDAQ:STTK) Declines By 16.5%

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

Institutional Trading of Shattuck Labs

Large investors have recently made changes to their positions in the business. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Shattuck Labs during the 3rd quarter valued at about $29,000. Virtu Financial LLC bought a new stake in Shattuck Labs during the third quarter worth approximately $38,000. AQR Capital Management LLC raised its position in Shattuck Labs by 265.4% during the first quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock valued at $41,000 after purchasing an additional 31,355 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Shattuck Labs in the 2nd quarter valued at approximately $44,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Shattuck Labs in the 3rd quarter worth approximately $46,000. 58.74% of the stock is currently owned by institutional investors.

Shattuck Labs Price Performance

Shares of NASDAQ STTK traded up $0.07 during midday trading on Monday, reaching $6.06. 236,535 shares of the stock traded hands, compared to its average volume of 680,605. The stock has a market capitalization of $433.80 million, a PE ratio of -7.86 and a beta of 1.55. Shattuck Labs has a one year low of $0.69 and a one year high of $6.27. The company’s 50 day moving average is $4.41 and its 200 day moving average is $3.03.

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, hitting the consensus estimate of ($0.12). The business had revenue of ($1.00) million during the quarter, compared to the consensus estimate of $0.17 million. As a group, equities analysts forecast that Shattuck Labs will post -1.48 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on STTK. Citigroup lifted their price target on shares of Shattuck Labs from $4.00 to $7.00 and gave the company a “neutral” rating in a report on Friday. TD Cowen reissued a “buy” rating on shares of Shattuck Labs in a research note on Friday, March 6th. Piper Sandler started coverage on shares of Shattuck Labs in a research report on Wednesday, January 28th. They set an “overweight” rating and a $15.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Shattuck Labs in a research note on Thursday, January 22nd. Finally, HC Wainwright raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 target price for the company in a report on Monday, December 1st. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.