Shattuck Labs (NASDAQ:STTK) Trading 6% Higher – Should You Buy?

Shattuck Labs, Inc. (NASDAQ:STTK) traded up 6% during trading on Monday . The company traded as high as $8.16 and last traded at $7.9790. 117,146 shares were traded during mid-day trading, a decline of 81% from the average session volume of 630,766 shares. The stock had previously closed at $7.53.

Wall Street Analysts Forecast Growth

STTK has been the subject of a number of research reports. TD Cowen restated a “buy” rating on shares of Shattuck Labs in a research report on Friday, March 6th. Wall Street Zen raised shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shattuck Labs in a research note on Thursday, January 22nd. Wedbush raised their price target on Shattuck Labs from $4.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. Finally, Piper Sandler initiated coverage on Shattuck Labs in a report on Wednesday, January 28th. They issued an “overweight” rating and a $15.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.50.

Shattuck Labs Trading Up 8.0%

The business has a 50 day simple moving average of $5.55 and a 200-day simple moving average of $3.85. The stock has a market capitalization of $614.86 million, a price-to-earnings ratio of -10.57 and a beta of 1.28.

Shattuck Labs (NASDAQ:STTK) last released its earnings results on Thursday, March 5th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The company had revenue of ($1.00) million during the quarter, compared to analysts’ expectations of $0.17 million. Research analysts predict that Shattuck Labs, Inc. will post -1.48 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Orbimed Advisors LLC acquired a new position in Shattuck Labs in the third quarter valued at $15,072,000. NEXTBio Capital Management LP acquired a new stake in Shattuck Labs during the fourth quarter worth about $11,497,000. Price T Rowe Associates Inc. MD acquired a new stake in Shattuck Labs during the fourth quarter worth about $7,031,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Shattuck Labs in the 4th quarter worth about $4,945,000. Finally, Bank of America Corp DE raised 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 purchasing an additional 1,094,997 shares during the period. 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.