Shattuck Labs (NASDAQ:STTK) Issues Earnings Results

Shattuck Labs (NASDAQ:STTK) announced its quarterly earnings data on Thursday. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01, FiscalAI reports. During the same quarter in the previous year, the company posted ($0.27) EPS.

Shattuck Labs Stock Up 9.4%

STTK stock traded up $0.59 during midday trading on Friday, reaching $6.85. The company had a trading volume of 1,574,131 shares, compared to its average volume of 626,682. Shattuck Labs has a fifty-two week low of $0.71 and a fifty-two week high of $8.33. The firm has a market capitalization of $517.74 million, a PE ratio of -8.90 and a beta of 1.18. The stock has a 50 day moving average price of $6.34 and a 200 day moving average price of $4.29.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wall Street Zen upgraded Shattuck Labs from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Needham & Company LLC initiated coverage on shares of Shattuck Labs in a research note on Friday, March 6th. They set a “buy” rating and a $25.00 price objective for the company. HC Wainwright upped their target price on Shattuck Labs from $6.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Cantor Fitzgerald initiated coverage on shares of Shattuck Labs in a research note on Monday, April 27th. They issued an “overweight” rating for the company. Finally, Wedbush raised their price objective on Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Orbimed Advisors LLC acquired a new position in shares of Shattuck Labs during the third quarter worth approximately $15,072,000. Price T Rowe Associates Inc. MD acquired a new position in Shattuck Labs in the fourth quarter worth approximately $7,031,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Shattuck Labs during the 4th quarter worth $4,945,000. Bank of America Corp DE boosted its position in shares of Shattuck Labs by 2,968.2% in the 3rd quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock valued at $2,705,000 after purchasing an additional 1,094,997 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of Shattuck Labs by 431.1% in the third quarter. Two Sigma Investments LP now owns 408,598 shares of the company’s stock worth $977,000 after acquiring an additional 331,664 shares in the last quarter. 58.74% of the stock is owned by institutional investors and hedge funds.

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.