Shattuck Labs (NASDAQ:STTK) Stock Price Up 20.6% – What’s Next?

Shares of Shattuck Labs, Inc. (NASDAQ:STTK) traded up 20.6% during mid-day trading on Wednesday . The company traded as high as $4.85 and last traded at $4.80. 1,450,938 shares were traded during trading, an increase of 245% from the average session volume of 420,936 shares. The stock had previously closed at $3.98.

Wall Street Analyst Weigh In

A number of analysts have recently commented on STTK shares. HC Wainwright upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $6.00 price objective for the company in a research report on Monday, December 1st. Wall Street Zen raised shares of Shattuck Labs from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Citigroup upped their price objective on shares of Shattuck Labs from $2.00 to $4.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shattuck Labs in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $4.00.

Shattuck Labs Stock Up 20.6%

The firm has a 50-day moving average price of $2.70 and a two-hundred day moving average price of $1.85. The firm has a market cap of $303.74 million, a PE ratio of -4.71 and a beta of 1.53.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. The firm had revenue of $1.00 million during the quarter. Research analysts forecast that Shattuck Labs, Inc. will post -1.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shattuck Labs

Several hedge funds and other institutional investors have recently modified their holdings of the business. Orbimed Advisors LLC acquired a new position in Shattuck Labs during the third quarter worth about $15,072,000. Bank of America Corp DE lifted its stake in 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 purchasing an additional 1,094,997 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Shattuck Labs by 431.1% during the 3rd quarter. Two Sigma Investments LP now owns 408,598 shares of the company’s stock worth $977,000 after purchasing an additional 331,664 shares during the last quarter. Jane Street Group LLC grew its position in shares of Shattuck Labs by 2,510.8% in the second quarter. Jane Street Group LLC now owns 289,671 shares of the company’s stock valued at $229,000 after purchasing an additional 278,576 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Shattuck Labs in the second quarter valued at approximately $98,000. 58.74% of the stock is owned by hedge funds and other institutional investors.

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.