Shattuck Labs, Inc. (NASDAQ:STTK) Sees Significant Drop in Short Interest

Shattuck Labs, Inc. (NASDAQ:STTK - Get Free Report) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 2,180,000 shares, a decline of 60.0% from the September 30th total of 5,450,000 shares. Based on an average trading volume of 555,700 shares, the days-to-cover ratio is currently 3.9 days. Currently, 5.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research analysts have recently commented on STTK shares. Citigroup downgraded Shattuck Labs from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $8.00 to $2.00 in a report on Wednesday, October 2nd. HC Wainwright lowered Shattuck Labs from a "buy" rating to a "neutral" rating in a research note on Tuesday, October 1st. Needham & Company LLC lowered shares of Shattuck Labs from a "buy" rating to a "hold" rating and set a $8.00 price objective on the stock. in a report on Wednesday, October 2nd. Finally, Evercore ISI raised shares of Shattuck Labs to a "strong-buy" rating in a research note on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Shattuck Labs has a consensus rating of "Hold" and an average price target of $8.67.

Insider Activity at Shattuck Labs

In related news, CEO Taylor Schreiber bought 36,500 shares of the company's stock in a transaction dated Monday, October 7th. The stock was acquired at an average cost of $1.21 per share, with a total value of $44,165.00. Following the acquisition, the chief executive officer now owns 71,002 shares in the company, valued at approximately $85,912.42. This represents a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Shattuck Labs

Institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company bought a new position in Shattuck Labs during the second quarter worth about $67,000. Virtu Financial LLC bought a new position in shares of Shattuck Labs during the 1st quarter worth approximately $113,000. Acadian Asset Management LLC acquired a new position in shares of Shattuck Labs during the 2nd quarter worth approximately $170,000. Susquehanna Fundamental Investments LLC bought a new stake in Shattuck Labs in the 1st quarter valued at $174,000. Finally, Rhumbline Advisers acquired a new stake in Shattuck Labs during the 2nd quarter valued at $182,000. Institutional investors own 58.74% of the company's stock.

Shattuck Labs Stock Up 2.3 %

NASDAQ STTK traded up $0.03 on Friday, reaching $1.31. The company had a trading volume of 1,086,638 shares, compared to its average volume of 460,598. Shattuck Labs has a 52 week low of $1.07 and a 52 week high of $11.76. The stock has a market cap of $62.29 million, a price-to-earnings ratio of -0.68 and a beta of 1.72. The stock's 50 day moving average is $2.75 and its 200-day moving average is $5.16.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.01). Shattuck Labs had a negative return on equity of 68.65% and a negative net margin of 2,067.99%. The business had revenue of $1.61 million during the quarter, compared to the consensus estimate of $0.50 million. The business's quarterly revenue was up 704.5% compared to the same quarter last year. As a group, analysts forecast that Shattuck Labs will post -1.56 EPS for the current year.

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.