Shattuck Labs (NASDAQ:STTK) Reaches New 52-Week High – Here’s Why

Shattuck Labs, Inc. (NASDAQ:STTK)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $7.04 and last traded at $7.02, with a volume of 431148 shares traded. The stock had previously closed at $6.78.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on STTK shares. TD Cowen reiterated 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 note on Wednesday, January 28th. They issued an “overweight” rating and a $15.00 price target on the stock. Needham & Company LLC started coverage on shares of Shattuck Labs in a research note on Friday, March 6th. They issued a “buy” rating and a $25.00 price target on the stock. Citigroup upped their price target on shares of Shattuck Labs from $4.00 to $7.00 and gave the stock a “neutral” rating in a research note on Friday, March 13th. Finally, Wall Street Zen upgraded shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Shattuck Labs has a consensus rating of “Moderate Buy” and an average price target of $10.50.

Shattuck Labs Trading Up 3.5%

The firm has a market cap of $502.38 million, a P/E ratio of -9.12 and a beta of 1.28. The company’s 50 day simple moving average is $5.03 and its 200-day simple moving average is $3.58.

Shattuck Labs (NASDAQ:STTK) last posted its earnings results on Thursday, March 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of ($1.00) million for the quarter, compared to the consensus estimate of $0.17 million. On average, sell-side analysts anticipate that Shattuck Labs, Inc. will post -1.48 earnings per share for the current year.

Hedge Funds Weigh In On Shattuck Labs

Several hedge funds and other institutional investors have recently bought and sold shares of STTK. AQR Capital Management LLC lifted its stake in Shattuck Labs by 265.4% during the 1st quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock valued at $41,000 after acquiring an additional 31,355 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Shattuck Labs during the 1st quarter valued at about $81,000. Acadian Asset Management LLC lifted its stake in Shattuck Labs by 27.6% during the 1st quarter. Acadian Asset Management LLC now owns 257,345 shares of the company’s stock valued at $243,000 after acquiring an additional 55,687 shares during the period. Qube Research & Technologies Ltd bought a new position in Shattuck Labs during the 2nd quarter valued at about $44,000. Finally, Jane Street Group LLC lifted its stake in Shattuck Labs by 2,510.8% during the 2nd quarter. Jane Street Group LLC now owns 289,671 shares of the company’s stock valued at $229,000 after acquiring an additional 278,576 shares during the period. Institutional investors own 58.74% of the company’s stock.

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.