Shattuck Labs, Inc. (NASDAQ:STTK) Shares Shorted: Short Interest Up 60.8% in September

Shattuck Labs, Inc. (NASDAQ:STTK) saw a large growth in short interest during the month of 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 trading volume, of 1,821,507 shares, the days-to-cover ratio is presently 6.0 days. Approximately 12.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

STTK has been the subject of several research reports. JPMorgan Chase & Co. started coverage on shares of Shattuck Labs in a research note on Friday, July 24th. They set an “overweight” rating and a $10.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shattuck Labs in a research note on Friday, September 11th. Raymond James Financial started coverage on shares of Shattuck Labs in a research note on Monday, August 24th. They issued a “strong-buy” rating and a $18.00 price objective on the stock. Wedbush raised their target price on shares of Shattuck Labs from $11.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, October 2nd. Finally, Wall Street Zen downgraded shares of Shattuck Labs from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Shattuck Labs has a consensus rating of “Buy” and an average target price of $13.70.

Shattuck Labs Stock Down 2.0%

Shares of NASDAQ:STTK traded down $0.11 during trading on Friday, hitting $5.42. 648,465 shares of the stock traded hands, compared to its average volume of 1,745,779. The company has a fifty day moving average price of $6.62 and a two-hundred day moving average price of $6.51. Shattuck Labs has a 52-week low of $1.72 and a 52-week high of $8.33. The company has a market cap of $543.95 million, a price-to-earnings ratio of -10.63 and a beta of 1.09.

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

Institutional Investors Weigh In On Shattuck Labs

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Shattuck Labs during the second quarter worth approximately $27,315,000. Frazier Life Sciences Management L.P. purchased a new position in Shattuck Labs in the 2nd quarter valued at $26,025,000. Wellington Management Group LLP purchased a new position in Shattuck Labs in the 2nd quarter valued at $12,269,000. S&G Foundation acquired a new stake in Shattuck Labs during the 2nd quarter worth $3,024,000. Finally, Deutsche Bank AG acquired a new stake in Shattuck Labs during the 2nd quarter worth $2,474,000. 58.74% of the stock is owned by hedge funds and other institutional investors.

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.