Shattuck Labs, Inc. (NASDAQ:STTK) Sees Large Growth in Short Interest

Shattuck Labs, Inc. (NASDAQ:STTK) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 2,539,247 shares, a growth of 121.1% from the May 31st total of 1,148,683 shares. Based on an average trading volume of 1,402,935 shares, the days-to-cover ratio is currently 1.8 days. Currently, 3.6% of the company’s stock are sold short.

Analysts Set New Price Targets

Several research firms have commented on STTK. Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 price objective for the company in a research note on Friday, June 5th. Cantor Fitzgerald assumed coverage on shares of Shattuck Labs in a research note on Monday, April 27th. They issued an “overweight” rating for the company. Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Friday, June 5th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Shattuck Labs in a research report on Monday, June 8th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Shattuck Labs in a research note on Friday, March 6th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Shattuck Labs Trading Down 6.2%

Shares of STTK opened at $6.51 on Thursday. Shattuck Labs has a twelve month low of $0.71 and a twelve month high of $8.33. The firm has a market capitalization of $499.19 million, a P/E ratio of -10.33 and a beta of 1.05. The stock’s fifty day simple moving average is $5.99 and its 200 day simple moving average is $5.23.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. During the same period in the previous year, the company posted ($0.27) EPS. Sell-side analysts predict that Shattuck Labs will post -0.51 earnings per share for the current year.

Insider Buying and Selling at Shattuck Labs

In related news, Director Clay B. Siegall acquired 62,500 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $4.00 per share, with a total value of $250,000.00. Following the completion of the acquisition, the director owned 318,608 shares in the company, valued at $1,274,432. This trade represents a 24.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Arundathy N. Pandite sold 30,000 shares of Shattuck Labs stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $6.61, for a total value of $198,300.00. Following the sale, the insider owned 166,219 shares in the company, valued at $1,098,707.59. This trade represents a 15.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 8.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. OMERS ADMINISTRATION Corp increased its position in shares of Shattuck Labs by 25.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock worth $214,000 after acquiring an additional 6,800 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Shattuck Labs by 5.4% in the first quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock valued at $915,000 after purchasing an additional 7,244 shares during the period. Virtu Financial LLC acquired a new position in shares of Shattuck Labs during the third quarter worth about $38,000. Squarepoint Ops LLC acquired a new position in shares of Shattuck Labs during the third quarter worth about $46,000. Finally, Mallini Complete Financial Planning LLC acquired a new position in shares of Shattuck Labs during the fourth quarter worth about $83,000. Hedge funds and other institutional investors own 58.74% of the company’s stock.

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.