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

Shattuck Labs, Inc. (NASDAQ:STTK) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 10,947,042 shares, a growth of 60.8% from the September 15th total of 6,808,662 shares. Based on an average daily volume of 1,821,507 shares, the short-interest ratio is presently 6.0 days. Currently, 12.0% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Needham & Company LLC raised their price target on shares of Shattuck Labs from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Wedbush upped their price objective on Shattuck Labs from $11.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, October 2nd. Raymond James Financial assumed coverage on Shattuck Labs in a report on Monday, August 24th. They issued a “strong-buy” rating and a $18.00 target price for the company. UBS Group began coverage on Shattuck Labs in a research report on Sunday, October 11th. They set a “buy” rating and a $17.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shattuck Labs in a research note on Friday, September 11th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $13.70.

Shattuck Labs Trading Down 2.0%

NASDAQ STTK opened at $5.42 on Friday. The firm has a market cap of $543.95 million, a price-to-earnings ratio of -10.63 and a beta of 1.09. The company has a 50 day moving average of $6.62 and a 200-day moving average of $6.51. Shattuck Labs has a 1-year low of $1.72 and a 1-year high of $8.33.

Shattuck Labs (NASDAQ:STTK) last announced its earnings results on Tuesday, August 11th. The company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). On average, analysts forecast that Shattuck Labs will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc acquired a new position in shares of Shattuck Labs in the 2nd quarter valued at $41,000. State of Wyoming bought a new stake in shares of Shattuck Labs in the second quarter worth $151,000. OMERS ADMINISTRATION Corp increased its position in shares of Shattuck Labs by 25.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock valued at $214,000 after acquiring an additional 6,800 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Shattuck Labs during the 1st quarter worth approximately $269,000. Finally, Bank of America Corp DE acquired a new stake in Shattuck Labs in the second quarter valued at $319,000. Institutional investors and hedge funds own 58.74% of the company’s stock.

Shattuck Labs Company Profile

Shattuck Labs, Inc is a clinical-stage biotechnology company focused on developing novel immunotherapies for cancer and other serious diseases. The company’s research is based on its Agonist Redirected Checkpoint (ARC) platform, which is designed to create biologic medicines that combine immune checkpoint blockade with immune-cell activation in a single therapeutic construct.

Shattuck’s pipeline has included investigational ARC fusion proteins intended to alter the tumor microenvironment and stimulate immune responses against cancer cells.