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

Shattuck Labs, Inc. (NASDAQ:STTK) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 10,947,042 shares, a growth of 60.8% from the September 15th total of 6,808,662 shares. Based on an average daily volume of 1,821,507 shares, the days-to-cover ratio is currently 6.0 days. Approximately 12.0% of the company’s shares are short sold.

Shattuck Labs Price Performance

Shares of NASDAQ:STTK traded down $0.03 during mid-day trading on Friday, reaching $5.50. 91,390 shares of the company were exchanged, compared to its average volume of 970,048. The firm has a market cap of $552.18 million, a price-to-earnings ratio of -10.79 and a beta of 1.09. The firm’s 50-day simple moving average is $6.66 and its 200 day simple moving average is $6.52. Shattuck Labs has a 1 year low of $1.72 and a 1 year high of $8.33.

Shattuck Labs (NASDAQ:STTK) last announced its earnings results on Tuesday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). On average, research analysts forecast that Shattuck Labs will post -0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STTK. Wedbush increased their price target on Shattuck Labs from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, October 2nd. UBS Group started coverage on Shattuck Labs in a research report on Sunday. They set a “buy” rating and a $17.00 price objective for the company. Leerink Partners assumed coverage on shares of Shattuck Labs in a report on Monday, July 20th. They issued an “outperform” rating and a $16.00 price objective on the stock. Needham & Company LLC boosted their price objective on shares of Shattuck Labs from $17.00 to $19.00 and gave the company a “buy” rating in a report on Friday, October 2nd. Finally, HC Wainwright decreased their target price on shares of Shattuck Labs from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $13.70.

Institutional Investors Weigh In On Shattuck Labs

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Shattuck Labs in the 2nd quarter valued at about $27,315,000. Frazier Life Sciences Management L.P. purchased a new stake in Shattuck Labs during the second quarter worth about $26,025,000. Wellington Management Group LLP acquired a new stake in shares of Shattuck Labs during the second quarter worth about $12,269,000. Renaissance Technologies LLC lifted its position in shares of Shattuck Labs by 77.4% during the first quarter. Renaissance Technologies LLC now owns 604,500 shares of the company’s stock worth $3,887,000 after purchasing an additional 263,800 shares in the last quarter. Finally, S&G Foundation purchased a new position in shares of Shattuck Labs in the second quarter valued at approximately $3,024,000. 58.74% of the stock is owned by institutional investors and hedge funds.

About Shattuck Labs

Shattuck Labs, Inc is a clinical-stage biotechnology company focused on developing novel immunotherapies for cancer and other serious diseases. The company’s research is based on its Agonist Redirected Checkpoint (ARC) platform, which is designed to create biologic medicines that combine immune checkpoint blockade with immune-cell activation in a single therapeutic construct.

Shattuck’s pipeline has included investigational ARC fusion proteins intended to alter the tumor microenvironment and stimulate immune responses against cancer cells.