Short Interest in Shattuck Labs, Inc. (NASDAQ:STTK) Expands By 21.0%

Shattuck Labs, Inc. (NASDAQ:STTK) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 1,500,000 shares, an increase of 21.0% from the June 15th total of 1,240,000 shares. Currently, 4.7% of the shares of the stock are sold short. Based on an average daily volume of 213,900 shares, the short-interest ratio is currently 7.0 days.

Several brokerages recently commented on STTK. Berenberg Bank began coverage on shares of Shattuck Labs in a research report on Wednesday, April 14th. They issued a “buy” rating and a $47.00 price target for the company. Zacks Investment Research upgraded shares of Shattuck Labs from a “sell” rating to a “hold” rating in a research note on Tuesday, May 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $45.60.

Shattuck Labs stock opened at $23.41 on Thursday. The firm has a market cap of $981.00 million and a price-to-earnings ratio of -9.92. The company has a 50 day moving average of $26.95. Shattuck Labs has a twelve month low of $17.51 and a twelve month high of $60.52.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings data on Monday, May 10th. The company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.11. The company had revenue of $2.27 million during the quarter. On average, equities research analysts predict that Shattuck Labs will post -1.37 earnings per share for the current fiscal year.

In related news, Director Josiah Hornblower sold 12,049 shares of the company’s stock in a transaction that occurred on Wednesday, July 14th. The shares were sold at an average price of $23.14, for a total value of $278,813.86. Following the completion of the sale, the director now owns 188,375 shares in the company, valued at approximately $4,358,997.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew R. Neill sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, July 15th. The shares were sold at an average price of $22.13, for a total transaction of $44,260.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 304,966 shares of company stock valued at $8,461,243. Company insiders own 18.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. LBJ Family Wealth Advisors Ltd. acquired a new position in shares of Shattuck Labs during the 2nd quarter worth $2,382,000. Eagle Global Advisors LLC acquired a new position in shares of Shattuck Labs during the 2nd quarter worth $345,000. Millennium Management LLC acquired a new position in shares of Shattuck Labs during the 1st quarter worth $416,000. PFM Health Sciences LP increased its stake in shares of Shattuck Labs by 444.7% during the 1st quarter. PFM Health Sciences LP now owns 326,813 shares of the company’s stock worth $9,191,000 after purchasing an additional 266,813 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Shattuck Labs by 170.1% during the 1st quarter. Royal Bank of Canada now owns 1,110 shares of the company’s stock worth $32,000 after purchasing an additional 699 shares during the last quarter. Institutional investors own 55.96% of the company’s stock.

About Shattuck Labs

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.

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