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

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

Several other large investors have also recently bought and sold shares of the business. Franklin Resources Inc. acquired a new position in shares of Shattuck Labs in the 4th quarter valued at $11,663,000. Monashee Investment Management LLC acquired a new stake in shares of Shattuck Labs during the fourth quarter worth about $713,000. Tower Research Capital LLC TRC increased its position in Shattuck Labs by 79.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,553 shares of the company’s stock worth $97,000 after buying an additional 5,989 shares during the period. SG Americas Securities LLC acquired a new position in shares of Shattuck Labs in the 4th quarter valued at $268,000. Finally, Reliant Investment Management LLC purchased a new stake in shares of Shattuck Labs in the fourth quarter valued at about $143,000. Hedge funds and other institutional investors own 58.74% of the company’s stock.

Insider Buying and Selling at Shattuck Labs

In related news, CEO Taylor Schreiber bought 14,400 shares of the stock in a transaction on Wednesday, June 26th. The shares were purchased at an average price of $3.47 per share, for a total transaction of $49,968.00. Following the acquisition, the chief executive officer now owns 34,502 shares in the company, valued at $119,721.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.

Analyst Upgrades and Downgrades

STTK has been the subject of several analyst reports. Needham & Company LLC reduced their price objective on Shattuck Labs from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Citigroup cut 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. HC Wainwright reduced their target price on shares of Shattuck Labs from $28.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, June 20th. Finally, BTIG Research lowered shares of Shattuck Labs from a “buy” rating to a “neutral” rating in a research note on Monday, June 17th.

Shattuck Labs Stock Performance

STTK stock traded up $0.11 during trading on Friday, reaching $3.86. 6,403,816 shares of the company were exchanged, compared to its average volume of 378,977. Shattuck Labs, Inc. has a 52-week low of $1.33 and a 52-week high of $11.76. The company has a market cap of $183.54 million, a P/E ratio of -2.00 and a beta of 1.85. The stock’s 50 day moving average price is $7.70 and its 200 day moving average price is $8.36.

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

Shattuck Labs Company Profile

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.