Short Interest in Shattuck Labs, Inc. (NASDAQ:STTK) Increases By 121.1%

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on STTK shares. Wedbush increased their price target on Shattuck Labs from $8.00 to $11.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Cantor Fitzgerald began coverage on shares of Shattuck Labs in a research note on Monday, April 27th. They issued an “overweight” rating for the company. Wall Street Zen raised shares of Shattuck Labs from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Needham & Company LLC increased their target price on shares of Shattuck Labs from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Finally, Citigroup raised shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Friday, June 5th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Insider Buying and Selling

In related news, insider Arundathy N. Pandite sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $6.61, for a total value of $198,300.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Clay B. Siegall acquired 62,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost 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 represents a 24.40% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 8.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Shattuck Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. OMERS ADMINISTRATION Corp lifted its holdings in shares of Shattuck Labs by 25.7% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock valued at $214,000 after purchasing an additional 6,800 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Shattuck Labs by 5.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock worth $915,000 after buying an additional 7,244 shares during the last quarter. Virtu Financial LLC purchased a new position in Shattuck Labs during the 3rd quarter worth $38,000. Squarepoint Ops LLC acquired a new position in Shattuck Labs during the 3rd quarter valued at about $46,000. Finally, Mallini Complete Financial Planning LLC acquired a new position in Shattuck Labs during the 4th quarter valued at about $83,000. Hedge funds and other institutional investors own 58.74% of the company’s stock.

Shattuck Labs Stock Performance

Shares of Shattuck Labs stock opened at $6.85 on Tuesday. The company has a market capitalization of $525.26 million, a PE ratio of -10.87 and a beta of 1.08. The company has a 50-day simple moving average of $6.02 and a two-hundred day simple moving average of $5.18. Shattuck Labs has a one year low of $0.71 and a one year high of $8.33.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. On average, equities analysts predict that Shattuck Labs will post -0.51 earnings per share for the current fiscal year.

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.