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

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STTK. Wedbush increased their price objective on shares of Shattuck Labs from $4.00 to $8.00 and gave the stock an “outperform” rating in a research note on Friday, March 6th. Needham & Company LLC began coverage on shares of Shattuck Labs in a research note on Friday, March 6th. They issued a “buy” rating and a $25.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shattuck Labs in a research note on Thursday, January 22nd. Piper Sandler began coverage on shares of Shattuck Labs in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $15.00 price objective on the stock. Finally, TD Cowen reiterated a “buy” rating on shares of Shattuck Labs in a research note on Friday, March 6th. Six 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’s stock. According to data from MarketBeat.com, Shattuck Labs currently has an average rating of “Moderate Buy” and a consensus price target of $10.50.

Shattuck Labs Trading Up 3.5%

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

Shattuck Labs (NASDAQ:STTK) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). The business had revenue of ($1.00) million during 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.

Institutional Investors Weigh In On Shattuck Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. purchased a new stake in Shattuck Labs in the 4th quarter worth approximately $4,945,000. Invesco Ltd. purchased a new stake in Shattuck Labs in the 4th quarter worth approximately $103,000. EP Wealth Advisors LLC purchased a new stake in Shattuck Labs in the 4th quarter worth approximately $150,000. Sphera Funds Management LTD. purchased a new stake in Shattuck Labs in the 4th quarter worth approximately $713,000. Finally, Price T Rowe Associates Inc. MD purchased a new stake in Shattuck Labs in the 4th quarter worth approximately $7,031,000. 58.74% of the stock is owned by hedge funds and other 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.