Shattuck Labs (NASDAQ:STTK) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Shattuck Labs (NASDAQ:STTK) released its quarterly earnings results on Thursday. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01, FiscalAI reports. During the same quarter last year, the business earned ($0.27) EPS.

Shattuck Labs Trading Up 9.4%

STTK stock traded up $0.59 during mid-day trading on Friday, hitting $6.85. 1,574,131 shares of the company were exchanged, compared to its average volume of 626,682. The company has a market capitalization of $517.74 million, a PE ratio of -8.90 and a beta of 1.18. Shattuck Labs has a twelve month low of $0.71 and a twelve month high of $8.33. The firm has a fifty day simple moving average of $6.34 and a 200 day simple moving average of $4.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in STTK. AQR Capital Management LLC grew its holdings in Shattuck Labs by 265.4% during the 1st quarter. AQR Capital Management LLC now owns 43,169 shares of the company’s stock worth $41,000 after acquiring an additional 31,355 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Shattuck Labs in the 1st quarter worth about $81,000. Acadian Asset Management LLC lifted its position in shares of Shattuck Labs by 27.6% in the 1st quarter. Acadian Asset Management LLC now owns 257,345 shares of the company’s stock worth $243,000 after buying an additional 55,687 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Shattuck Labs in the 2nd quarter worth about $44,000. Finally, Jane Street Group LLC lifted its position in shares of Shattuck Labs by 2,510.8% in the 2nd quarter. Jane Street Group LLC now owns 289,671 shares of the company’s stock worth $229,000 after buying an additional 278,576 shares during the last quarter. 58.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on STTK shares. TD Cowen reaffirmed a “buy” rating on shares of Shattuck Labs in a report on Friday, March 6th. Needham & Company LLC started coverage on shares of Shattuck Labs in a report on Friday, March 6th. They set a “buy” rating and a $25.00 price objective for the company. Citigroup raised their price objective on shares of Shattuck Labs from $4.00 to $7.00 and gave the stock a “neutral” rating in a report on Friday, March 13th. Piper Sandler started coverage on shares of Shattuck Labs in a report on Wednesday, January 28th. They set an “overweight” rating and a $15.00 price objective for the company. Finally, HC Wainwright raised their price objective on shares of Shattuck Labs from $6.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Shattuck Labs has a consensus rating of “Moderate Buy” and an average price target of $13.00.

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.