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

Shattuck Labs (NASDAQ:STTK) announced its quarterly earnings data on Thursday. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01, FiscalAI reports. During the same quarter in the prior year, the company earned ($0.27) EPS.

Shattuck Labs Stock Up 9.4%

NASDAQ STTK traded up $0.59 on Friday, reaching $6.85. The company had a trading volume of 1,574,131 shares, compared to its average volume of 626,682. The stock has a market capitalization of $517.74 million, a PE ratio of -8.90 and a beta of 1.18. The firm’s 50 day moving average price is $6.34 and its 200 day moving average price is $4.29. Shattuck Labs has a 12 month low of $0.71 and a 12 month high of $8.33.

Analyst Ratings Changes

Several research analysts recently weighed in on STTK shares. Needham & Company LLC initiated coverage on shares of Shattuck Labs in a report on Friday, March 6th. They issued a “buy” rating and a $25.00 target price for the company. Wedbush boosted their price objective on Shattuck Labs from $8.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday. TD Cowen reaffirmed a “buy” rating on shares of Shattuck Labs in a research note on Friday, March 6th. Piper Sandler started coverage on Shattuck Labs in a research report on Wednesday, January 28th. They set an “overweight” rating and a $15.00 target price for the company. Finally, Citigroup lifted their target price on Shattuck Labs from $4.00 to $7.00 and gave the company a “neutral” rating in a research note on Friday, March 13th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Shattuck Labs has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Orbimed Advisors LLC bought a new stake in shares of Shattuck Labs in the third quarter worth about $15,072,000. Price T Rowe Associates Inc. MD bought a new position in Shattuck Labs during the fourth quarter valued at approximately $7,031,000. T. Rowe Price Investment Management Inc. bought a new position in Shattuck Labs during the fourth quarter valued at approximately $4,945,000. Bank of America Corp DE grew its holdings in Shattuck Labs by 2,968.2% during the 3rd quarter. Bank of America Corp DE now owns 1,131,888 shares of the company’s stock valued at $2,705,000 after buying an additional 1,094,997 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Shattuck Labs by 32.1% during the 4th quarter. Geode Capital Management LLC now owns 618,277 shares of the company’s stock valued at $2,258,000 after buying an additional 150,318 shares in the last quarter. Hedge funds and other institutional investors own 58.74% of the company’s stock.

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.