Shattuck Labs, Inc. (NASDAQ:STTK) Sees Large Drop in Short Interest

Shattuck Labs, Inc. (NASDAQ:STTK) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 1,921,827 shares, a drop of 14.7% from the January 29th total of 2,251,778 shares. Currently, 3.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 334,601 shares, the short-interest ratio is presently 5.7 days. Based on an average daily trading volume, of 334,601 shares, the short-interest ratio is presently 5.7 days. Currently, 3.5% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several research firms recently weighed in on STTK. Piper Sandler initiated coverage on shares of Shattuck Labs in a research note on Wednesday, January 28th. They set an “overweight” rating and a $15.00 target price for the company. Citigroup increased their price objective on shares of Shattuck Labs from $2.00 to $4.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. HC Wainwright raised Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Monday, December 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Shattuck Labs in a research note on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.20.

Shattuck Labs Price Performance

Shattuck Labs stock opened at $4.23 on Wednesday. Shattuck Labs has a twelve month low of $0.69 and a twelve month high of $4.89. The company’s 50-day moving average price is $4.05 and its 200-day moving average price is $2.77. The company has a market cap of $267.67 million, a PE ratio of -4.15 and a beta of 1.55.

Institutional Investors Weigh In On Shattuck Labs

Several institutional investors have recently modified their holdings of STTK. Orbimed Advisors LLC bought a new position in shares of Shattuck Labs during the 3rd quarter valued at approximately $15,072,000. NEXTBio Capital Management LP bought a new position in Shattuck Labs during the fourth quarter valued at $11,497,000. Price T Rowe Associates Inc. MD bought a new position in Shattuck Labs during the fourth quarter valued at $7,031,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Shattuck Labs in the fourth quarter valued at $4,945,000. Finally, Bank of America Corp DE lifted its holdings 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 worth $2,705,000 after acquiring an additional 1,094,997 shares during the last quarter. 58.74% of the stock is owned by institutional investors.

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.