Shattuck Labs (STTK) AI Stock Analysis

• Market Cap: $425.81M
• Dividend Yield: N/A
• Average Volume (3M): 526.94K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.97
• Revenue Growth: -84.46%
• EPS Growth: 33.32%
• Country: US
• Employees: 44
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.12
• Shares Outstanding: 71,564,220
• 10 Day Avg. Volume: 946,238
• 30 Day Avg. Volume: 526,941
• PEG Ratio: 0.10
• Price to Book (P/B): 3.08
• Price to Sales (P/S): 253.99
• P/FCF Ratio: -6.36
• Enterprise Value/Market Cap: 0.55
• Enterprise Value/Revenue: 232.42
• Enterprise Value/Gross Profit: -131.23
• Enterprise Value/Ebitda: -5.00
• 1Y Price Target: $10.00
• Price Target Upside: 66.11% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): -0.52
• Revenue Forecast (FY): N/A

• Rating: 50 Neutral
• Price Target: $6.00 ▼(-0.33% Downside)
• Action: Reiterated Date: 03/07/26
• Date: Action: Reiterated 03/07/26

The score is held down primarily by weak financial performance (minimal/volatile revenue, ongoing losses, and significant cash burn), partially offset by a low-debt balance sheet. Technicals show strong momentum but are overbought, raising near-term risk. Valuation is constrained by negative earnings, and the new ATM program improves financing flexibility but increases dilution overhang.

Positive Factors

Low leverage / strong balance sheet

The company's very low reported debt and minimal leverage reduce refinancing and interest-burden risks, preserving financial flexibility. That cleaner leverage profile supports strategic R&D investments and potential partnerships without immediate solvency pressure over the next several quarters.

At-the-market $75M financing program

The $75M ATM creates a durable, on-demand financing channel to supply capital for ongoing and planned clinical trials, pipeline advancement, and working capital needs. This optionality materially reduces the immediate risk of running short of cash amid clinical spend, albeit with potential dilution when used.

Platform focus: engineered fusion biologics

Shattuck’s focus on engineered fusion protein therapeutics is a structural strength: a differentiated platform approach can generate durable IP, targeted mechanisms, and partner interest. Successful clinical progress would meaningfully de-risk long-term commercial potential and competitive positioning.

Negative Factors

Significant cash burn

Sustained negative operating and free cash flow at this scale indicates substantial ongoing cash consumption. Continued burn necessitates frequent capital raises, constrains strategic autonomy, shortens runway between financings, and increases the long-term risk of dilution or disrupted clinical programs.

Minimal and volatile revenue

Highly inconsistent, minimal revenue reflects absence of recurring product sales and reliance on sporadic collaboration or grant receipts. This unpredictability undermines ability to cover fixed R&D costs internally, complicates planning, and heightens dependence on external capital over the medium term.

Persistent large operating losses

Deep negative margins and ongoing operating losses reflect a pre-commercial cost structure and heavy R&D investment. Persistent losses erode equity, depress returns on capital, and make the company structurally dependent on external funding, which can limit long-term scalability if clinical outcomes are delayed or negative.

Shattuck Labs Business Overview & Revenue Model

Company Description

Shattuck Labs, Inc., a clinical-stage biotechnology company, develops therapeutics for the treatment of cancer and autoimmune disease in the United States. The company's lead product candidate is SL-172154, which is in Phase 1 clinical trial for the treatment of ovarian, fallopian tube, and peritoneal cancers. It also develops SL-279252 that is in Phase 1 clinical trial in patients with advanced solid tumors and lymphoma. The company was incorporated in 2016 and is headquartered in Austin, Texas.

How the Company Makes Money

Shattuck Labs generates revenue primarily through partnerships and collaborations with larger pharmaceutical companies, which provide funding for research and development in exchange for rights to commercialize products developed from their technology. Additionally, the company may receive milestone payments as specific development targets are met during the clinical trial phases. Another key revenue stream could come from licensing agreements, where Shattuck allows other companies to use its proprietary technologies in their own drug development efforts. Sales of any successfully developed therapeutics, once they are approved by regulatory bodies, will also contribute to the company’s earnings. Strategic collaborations with industry leaders enhance the company’s financial growth and provide access to broader markets.

Shattuck Labs Financial Statement Overview

Summary

Financial profile is mixed: a low-debt balance sheet (strong leverage metrics) is offset by highly volatile and currently minimal revenue, persistent large operating losses, and continued material cash burn (operating and free cash flow deeply negative), indicating the business is not yet self-funding.

Income Statement

Revenue has been highly volatile and currently very small (2025 annual revenue of ~$1.0M vs ~$5.7M in 2024 and ~$30.0M in 2021), indicating an inconsistent top-line base. Profitability remains very weak with persistent large operating losses and deeply negative net margins (2025 net margin around -4,881%), although losses have narrowed versus 2022–2024 levels. Overall, the income statement reflects a pre-commercial biotech profile with limited revenue visibility and ongoing heavy expense load.

Balance Sheet

Leverage is low, with modest total debt (~$1.6M in 2025) and a very low debt-to-equity ratio (~0.02), which reduces financial risk and supports flexibility. Total assets have declined materially since 2020–2021, consistent with cash usage over time, and returns on equity remain meaningfully negative due to ongoing losses. Net-net, the balance sheet is relatively clean on debt, but the equity base is being pressured by sustained deficits.

Cash Flow

Cash burn remains significant: 2025 operating cash flow was about -$39.9M and free cash flow about -$40.0M, though improved from 2022–2024 burn levels. Cash generation is not yet in place, and free cash flow growth turned negative in 2025 after improvements in 2023–2024. The key positive is that cash flow trends are moving in the right direction versus prior years, but the company is still reliant on external funding until operating cash flow turns sustainably positive.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.00M	5.72M	1.66M	652.00K	30.02M
Gross Profit	-2.69M	5.72M	-2.38M	652.00K	28.64M
EBITDA	-47.84M	-76.74M	-87.92M	-100.26M	-43.89M
Net Income	-48.81M	-75.41M	-87.30M	-101.94M	-44.97M
Balance Sheet
Total Assets	91.03M	91.05M	159.56M	205.32M	298.58M
Cash, Cash Equivalents and Short-Term Investments	78.06M	72.99M	130.63M	161.28M	268.80M
Total Debt	1.58M	3.41M	4.20M	4.90M	0.00
Total Liabilities	8.64M	11.42M	14.86M	29.17M	26.80M
Stockholders Equity	82.39M	79.63M	144.71M	176.16M	271.79M
Cash Flow
Free Cash Flow	-39.95M	-60.57M	-81.64M	-106.11M	-65.04M
Operating Cash Flow	-39.88M	-60.52M	-81.23M	-94.50M	-57.12M
Investing Cash Flow	-7.89M	-8.51M	110.86M	49.44M	-10.44M
Financing Cash Flow	44.57M	787.00K	48.62M	171.00K	1.93M

Shattuck Labs Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For STTK, the sentiment is Positive. The current price of 6.02 is above the 20-day moving average (MA) of 4.83, above the 50-day MA of 4.43, and above the 200-day MA of 2.38, indicating a bullish trend. The MACD of 0.56 indicates Negative momentum. The RSI at 74.77 is Negative, neither overbought nor oversold. The STOCH value of 90.68 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for STTK.

Shattuck Labs Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PYPD	56 Neutral	$87.02M	-2.64	-291.42%	―	―	61.23%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
STTK	50 Neutral	$425.81M	-7.52	-65.03%	―	-84.46%	33.32%
XLO	49 Neutral	$38.98M	-1.86	-857.86%	―	588.40%	61.76%
ACRV	49 Neutral	$52.38M	-0.96	-53.71%	―	―	21.17%

Shattuck Labs Corporate Events

Shattuck Labs Sets Earlier Date for 2026 Annual Meeting

On February 5, 2026, Shattuck Labs’ board set May 28, 2026 as the date for its 2026 annual meeting of stockholders, a shift to a significantly earlier meeting date than the prior year. As a result of this scheduling change, the company revised its deadlines for shareholder participation: proposals for inclusion in the proxy materials under SEC Rule 14a-8 must be received by the close of business on February 15, 2026, while director nominations and other proposals under the company’s advance notice bylaw provisions must be submitted between January 28, 2026 and February 27, 2026, with the company emphasizing that it may reject any submissions that fail to meet SEC and bylaw requirements, clarifying the procedural landscape for investors seeking to influence governance at the 2026 meeting.

The most recent analyst rating on (STTK) stock is a Buy with a $15.00 price target. To see the full list of analyst forecasts on Shattuck Labs stock, see the STTK Stock Forecast page.

Shattuck Labs Launches $75 Million At-The-Market Offering

On January 22, 2026, Shattuck Labs, Inc. entered into a sales agreement with Leerink Partners LLC to offer and sell from time to time up to $75 million of its common stock through an at-the-market equity program registered under an effective shelf registration statement. The company is not obligated to sell any shares and may suspend or terminate the program at any time, while Leerink Partners will act as sales agent on mutually agreed terms in exchange for a commission of up to 3% of gross proceeds plus expense reimbursement. Shattuck Labs plans to use any proceeds from this flexible financing vehicle to fund ongoing and planned clinical trials, develop additional product candidates, and support working capital and general corporate needs, potentially strengthening its balance sheet and providing incremental funding capacity for its R&D pipeline.

The most recent analyst rating on (STTK) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Shattuck Labs stock, see the STTK Stock Forecast page.