Short Interest in Shattuck Labs, Inc. (NASDAQ:STTK) Drops By 61.0%

Key Points

• Short interest in Shattuck Labs (NASDAQ:STTK) decreased by 61.0% in September, dropping from 959,300 shares to 374,100 shares, with a days-to-cover ratio of 0.2 days based on the current trading volume.
• The stock traded down 0.4% at $2.37, with a market capitalization of $113.52 million, and a P/E ratio of -1.96.
• Institutional investors hold 58.74% of Shattuck Labs' stock, with notable increases in holdings reported by firms like AQR Capital Management and Millennium Management.

Shattuck Labs, Inc. (NASDAQ:STTK - Get Free Report) was the target of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 374,100 shares, a drop of 61.0% from the August 31st total of 959,300 shares. Based on an average daily trading volume, of 2,260,000 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 2,260,000 shares, the days-to-cover ratio is currently 0.2 days.

Shattuck Labs Trading Down 0.4%

NASDAQ:STTK traded down $0.01 during trading hours on Thursday, reaching $2.37. 211,223 shares of the company traded hands, compared to its average volume of 892,431. The business's 50-day moving average price is $1.38 and its two-hundred day moving average price is $1.10. The stock has a market capitalization of $113.52 million, a P/E ratio of -1.96 and a beta of 1.88. Shattuck Labs has a 1 year low of $0.69 and a 1 year high of $2.49.

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, beating analysts' consensus estimates of ($0.25) by $0.01. As a group, equities analysts anticipate that Shattuck Labs will post -1.48 EPS for the current year.

Insider Activity at Shattuck Labs

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

Institutional Trading of Shattuck Labs

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in shares of Shattuck Labs by 265.4% in the first quarter. AQR Capital Management LLC now owns 43,169 shares of the company's stock valued at $41,000 after acquiring an additional 31,355 shares in the last quarter. 683 Capital Management LLC lifted its position in shares of Shattuck Labs by 4.3% in the second quarter. 683 Capital Management LLC now owns 1,095,000 shares of the company's stock valued at $867,000 after acquiring an additional 45,000 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Shattuck Labs in the first quarter worth about $50,000. Millennium Management LLC lifted its position in shares of Shattuck Labs by 37.0% in the fourth quarter. Millennium Management LLC now owns 201,214 shares of the company's stock worth $243,000 after buying an additional 54,322 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Shattuck Labs by 147.5% in the second quarter. Bridgeway Capital Management LLC now owns 92,300 shares of the company's stock worth $73,000 after buying an additional 55,000 shares in the last quarter. Institutional investors own 58.74% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Leerink Partners lowered their target price on Shattuck Labs from $4.00 to $2.00 and set an "outperform" rating for the company in a research note on Thursday, August 14th. Wedbush assumed coverage on Shattuck Labs in a research note on Monday, September 8th. They issued an "outperform" rating and a $4.00 target price for the company. Needham & Company LLC restated a "hold" rating on shares of Shattuck Labs in a research note on Thursday, August 14th. Finally, Wall Street Zen upgraded Shattuck Labs from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Shattuck Labs presently has a consensus rating of "Moderate Buy" and an average price target of $3.00.

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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