Shattuck Labs, Inc. (NASDAQ:STTK) Short Interest Update

Key Points

• Shattuck Labs, Inc. saw a 25.1% decrease in short interest, with a total of 959,300 shares sold short as of August 31st.
• Directors purchased a combined total of 12,612,254 shares at an average price of $0.87, significantly increasing their ownership of the stock.
• Institutional investors now hold 58.74% of Shattuck Labs' stock, with several firms increasing their positions during recent quarters.

Shattuck Labs, Inc. (NASDAQ:STTK - Get Free Report) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 959,300 shares, a decline of 25.1% from the August 15th total of 1,280,000 shares. Based on an average daily volume of 2,220,000 shares, the short-interest ratio is presently 0.4 days. Currently, 2.8% of the company's stock are sold short. Currently, 2.8% of the company's stock are sold short. Based on an average daily volume of 2,220,000 shares, the short-interest ratio is presently 0.4 days.

Shattuck Labs Trading Up 2.2%

STTK traded up $0.05 during trading on Friday, reaching $2.28. 375,000 shares of the company were exchanged, compared to its average volume of 1,499,088. The stock has a market cap of $109.21 million, a P/E ratio of -1.88 and a beta of 1.64. The firm has a 50 day moving average of $1.13 and a 200 day moving average of $1.04. Shattuck Labs has a 52 week low of $0.69 and a 52 week high of $3.95.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.01. As a group, analysts forecast that Shattuck Labs will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mona Ashiya bought 6,306,127 shares of the business's stock in a transaction on Monday, August 25th. The stock was acquired at an average cost of $0.87 per share, with a total value of $5,486,330.49. Following the purchase, the director directly owned 5,255,106 shares of the company's stock, valued at $4,571,942.22. The trade was a -600.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Orbimed Advisors Llc bought 6,306,127 shares of the business's stock in a transaction dated Monday, August 25th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $5,486,330.49. Following the transaction, the director directly owned 5,255,106 shares in the company, valued at approximately $4,571,942.22. This represents a -600.00% increase in their position. The disclosure for this purchase can be found here. 12.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Shattuck Labs

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC grew its stake in shares of Shattuck Labs by 2,510.8% in the 2nd quarter. Jane Street Group LLC now owns 289,671 shares of the company's stock valued at $229,000 after buying an additional 278,576 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Shattuck Labs in the second quarter worth about $98,000. Bank of America Corp DE increased its stake in shares of Shattuck Labs by 135.0% during the fourth quarter. Bank of America Corp DE now owns 187,089 shares of the company's stock valued at $226,000 after purchasing an additional 107,491 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in Shattuck Labs in the first quarter worth approximately $97,000. Finally, Deutsche Bank AG raised its position in shares of Shattuck Labs by 476.4% during the 4th quarter. Deutsche Bank AG now owns 116,868 shares of the company's stock valued at $141,000 after purchasing an additional 96,594 shares during the period. Institutional investors and hedge funds own 58.74% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on STTK. Needham & Company LLC reaffirmed a "hold" rating on shares of Shattuck Labs in a report on Thursday, August 14th. Leerink Partners decreased their target price on shares of Shattuck Labs from $4.00 to $2.00 and set an "outperform" rating on the stock in a research note on Thursday, August 14th. Wedbush began coverage on shares of Shattuck Labs in a report on Monday, September 8th. They set an "outperform" rating and a $4.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Shattuck Labs from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $4.00.

Shattuck Labs Company Profile

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.