Short Interest in Shattuck Labs, Inc. (NASDAQ:STTK) Increases By 113.8%

Shattuck Labs, Inc. (NASDAQ:STTK) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 2,198,677 shares, a growth of 113.8% from the December 31st total of 1,028,366 shares. Based on an average daily trading volume, of 791,757 shares, the days-to-cover ratio is presently 2.8 days. Currently, 3.9% of the shares of the stock are sold short. Currently, 3.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 791,757 shares, the days-to-cover ratio is presently 2.8 days.

Hedge Funds Weigh In On Shattuck Labs

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Shattuck Labs in the 3rd quarter valued at about $29,000. Virtu Financial LLC acquired a new position in Shattuck Labs during the third quarter valued at approximately $38,000. Squarepoint Ops LLC bought a new stake in Shattuck Labs in the third quarter valued at approximately $46,000. Mallini Complete Financial Planning LLC acquired a new stake in Shattuck Labs in the fourth quarter worth $83,000. Finally, AQR Capital Management LLC boosted its position in shares of Shattuck Labs by 265.4% during the first quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock worth $41,000 after purchasing an additional 31,355 shares in the last quarter. Institutional investors own 58.74% of the company’s stock.

Analyst Ratings Changes

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

Shattuck Labs Stock Performance

Shares of STTK stock opened at $3.87 on Friday. The firm’s 50 day moving average price is $3.52 and its two-hundred day moving average price is $2.25. Shattuck Labs has a 52-week low of $0.69 and a 52-week high of $4.89. The stock has a market cap of $244.89 million, a PE ratio of -3.79 and a beta of 1.53.

Shattuck Labs (NASDAQ:STTK) last issued its earnings results on Thursday, November 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. The business had revenue of $1.00 million for the quarter. As a group, sell-side analysts predict that Shattuck Labs will post -1.48 earnings per share for the current fiscal year.

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.