Cannon Global Investment Management LLC Acquires New Stake in Shattuck Labs, Inc. (NASDAQ:STTK)

Cannon Global Investment Management LLC bought a new position in Shattuck Labs, Inc. (NASDAQ:STTK) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,200 shares of the company’s stock, valued at approximately $91,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. bought a new stake in shares of Shattuck Labs in the 4th quarter worth $11,663,000. Monashee Investment Management LLC bought a new position in Shattuck Labs during the fourth quarter valued at about $713,000. SG Americas Securities LLC acquired a new position in Shattuck Labs during the fourth quarter worth about $268,000. Reliant Investment Management LLC bought a new stake in Shattuck Labs in the fourth quarter worth about $143,000. Finally, Tower Research Capital LLC TRC raised its position in Shattuck Labs by 79.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,553 shares of the company’s stock worth $97,000 after acquiring an additional 5,989 shares in the last quarter. 58.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of Shattuck Labs from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, June 17th. BTIG Research lowered shares of Shattuck Labs from a “buy” rating to a “neutral” rating in a research report on Monday, June 17th. Needham & Company LLC cut their target price on Shattuck Labs from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Finally, HC Wainwright decreased their price target on Shattuck Labs from $28.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, June 20th.

Shattuck Labs Trading Up 2.9 %

STTK stock traded up $0.11 during mid-day trading on Friday, hitting $3.86. The stock had a trading volume of 6,403,816 shares, compared to its average volume of 378,977. Shattuck Labs, Inc. has a 1-year low of $1.33 and a 1-year high of $11.76. The company has a fifty day moving average of $7.70 and a 200 day moving average of $8.36. The stock has a market capitalization of $183.54 million, a price-to-earnings ratio of -2.00 and a beta of 1.85.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.08. The business had revenue of $1.15 million during the quarter, compared to analysts’ expectations of $0.30 million. Shattuck Labs had a negative return on equity of 64.85% and a negative net margin of 3,133.63%. The company’s revenue was up 2200.0% on a year-over-year basis. As a group, sell-side analysts expect that Shattuck Labs, Inc. will post -1.56 earnings per share for the current fiscal year.

Insider Activity at Shattuck Labs

In other news, CEO Taylor Schreiber bought 14,400 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were acquired at an average cost of $3.47 per share, for a total transaction of $49,968.00. Following the purchase, the chief executive officer now owns 34,502 shares of the company’s stock, valued at approximately $119,721.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.50% of the stock is owned by company insiders.

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.