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

Key Points

• Short interest in Shattuck Labs (NASDAQ:STTK) fell by 16.5% to 1,604,787 shares as of Feb. 27, equal to about 2.5% of the float and a short-interest ratio of 5.4 days.
• The stock traded near $6.06 (12‑month high $6.27) with a market cap of about $433.8M; the company reported Q results showing EPS of ($0.12) (in line with estimates) but a revenue shortfall versus expectations, and analysts forecast FY EPS of -1.48.
• Wall Street consensus is a “Moderate Buy” with a consensus target of $10.50 (six Buys, one Hold, one Sell), and institutional investors own roughly 58.7% of the shares.

Shattuck Labs, Inc. (NASDAQ:STTK - Get Free Report) saw a large decline in short interest in 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 company's stock are sold short. Based on an average daily volume of 294,628 shares, the short-interest ratio is presently 5.4 days. Based on an average daily volume of 294,628 shares, the short-interest ratio is presently 5.4 days. Approximately 2.5% of the company's stock are sold short.

Shattuck Labs Price Performance

Shattuck Labs stock traded up $0.07 during mid-day trading on Monday, reaching $6.06. 236,535 shares of the stock traded hands, compared to its average volume of 680,605. Shattuck Labs has a 12-month low of $0.69 and a 12-month high of $6.27. The business's 50-day moving average is $4.41 and its 200-day moving average is $3.03. The stock has a market capitalization of $433.80 million, a PE ratio of -7.86 and a beta of 1.55.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last announced its earnings results on Thursday, March 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). The firm had revenue of ($1.00) million during the quarter, compared to analysts' expectations of $0.17 million. Equities analysts anticipate that Shattuck Labs will post -1.48 EPS for the current fiscal year.

Institutional Trading of Shattuck Labs

Several large investors have recently added to or reduced their stakes in the business. Turtle Creek Wealth Advisors LLC bought a new position in Shattuck Labs in the third quarter worth approximately $29,000. Virtu Financial LLC bought a new position in Shattuck Labs in the 3rd quarter worth $38,000. Squarepoint Ops LLC purchased a new position in Shattuck Labs during the third quarter valued at $46,000. Mallini Complete Financial Planning LLC bought a new stake in Shattuck Labs during the fourth quarter valued at about $83,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Shattuck Labs in the fourth quarter worth about $85,000. 58.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STTK has been the subject of a number of analyst reports. TD Cowen restated a "buy" rating on shares of Shattuck Labs in a research note on Friday, March 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Shattuck Labs in a research report on Thursday, January 22nd. Needham & Company LLC initiated coverage on Shattuck Labs in a research report on Friday, March 6th. They issued a "buy" rating and a $25.00 price objective on the stock. HC Wainwright upgraded Shattuck Labs from a "neutral" rating to a "buy" rating and set a $6.00 target price on the stock in a research note on Monday, December 1st. Finally, Piper Sandler assumed coverage on Shattuck Labs in a research note on Wednesday, January 28th. They issued an "overweight" rating and a $15.00 price target for the company. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.50.

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.

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