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

Shattuck Labs, Inc. (NASDAQ:STTK) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 2,539,247 shares, an increase of 121.1% from the May 31st total of 1,148,683 shares. Based on an average daily volume of 1,402,935 shares, the days-to-cover ratio is presently 1.8 days. Currently, 3.6% of the company’s stock are short sold.

Shattuck Labs Price Performance

Shares of STTK traded down $0.43 during trading hours on Wednesday, hitting $6.51. The company’s stock had a trading volume of 1,985,341 shares, compared to its average volume of 829,667. The business has a 50 day simple moving average of $6.01 and a two-hundred day simple moving average of $5.21. Shattuck Labs has a 52-week low of $0.71 and a 52-week high of $8.33. The company has a market cap of $499.19 million, a price-to-earnings ratio of -10.33 and a beta of 1.08.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. During the same quarter in the prior year, the company earned ($0.27) earnings per share. Research analysts predict that Shattuck Labs will post -0.51 earnings per share for the current year.

Insider Buying and Selling at Shattuck Labs

In other Shattuck Labs news, Director Clay B. Siegall purchased 62,500 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average price of $4.00 per share, for a total transaction of $250,000.00. Following the purchase, the director owned 318,608 shares of the company’s stock, valued at $1,274,432. This trade represents a 24.40% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Arundathy N. Pandite sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $6.61, for a total transaction of $198,300.00. Following the transaction, the insider owned 166,219 shares in the company, valued at approximately $1,098,707.59. The trade was a 15.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 8.79% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. OMERS ADMINISTRATION Corp increased its position in shares of Shattuck Labs by 25.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock valued at $214,000 after buying an additional 6,800 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Shattuck Labs by 5.4% in the first quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock valued at $915,000 after acquiring an additional 7,244 shares during the period. Virtu Financial LLC purchased a new position in Shattuck Labs during the third quarter valued at approximately $38,000. Squarepoint Ops LLC purchased a new position in Shattuck Labs during the third quarter valued at approximately $46,000. Finally, Mallini Complete Financial Planning LLC bought a new stake in Shattuck Labs during the 4th quarter worth approximately $83,000. Institutional investors own 58.74% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on STTK shares. Weiss Ratings upgraded Shattuck Labs from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, June 16th. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Shattuck Labs in a research report on Monday, June 8th. Wall Street Zen raised shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. TD Cowen reaffirmed a “buy” rating on shares of Shattuck Labs in a report on Friday, March 6th. Finally, Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Friday, June 5th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Shattuck Labs presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

About Shattuck Labs

Shattuck Labs, Inc (NASDAQ: STTK) is a clinical‐stage biotechnology company headquartered in Cambridge, Massachusetts. The company is focused on developing immunotherapeutic vaccines to prevent and treat substance use disorders, with an initial emphasis on opioids. Shattuck Labs employs a proprietary hapten‐carrier conjugate technology designed to generate high‐affinity drug‐specific antibodies that sequester target molecules in the bloodstream and reduce their passage across the blood‐brain barrier.

The company’s lead program targets fentanyl, a synthetic opioid responsible for a significant proportion of overdose fatalities.