Shattuck Labs (NASDAQ:STTK) Rating Lowered to Neutral at HC Wainwright

Shattuck Labs (NASDAQ:STTK) was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a report issued on Tuesday, MarketBeat.com reports.

Other analysts have also issued reports about the company. Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of Shattuck Labs in a research note on Friday, August 2nd. BTIG Research lowered Shattuck Labs from a “buy” rating to a “neutral” rating in a report on Monday, June 17th. Finally, Citigroup dropped their price objective on shares of Shattuck Labs from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, August 15th.

Shattuck Labs Stock Performance

STTK opened at $1.25 on Tuesday. Shattuck Labs has a fifty-two week low of $1.18 and a fifty-two week high of $11.76. The firm has a 50-day moving average of $3.49 and a 200 day moving average of $6.04. The firm has a market cap of $59.44 million, a P/E ratio of -0.65 and a beta of 1.72.

Shattuck Labs (NASDAQ:STTK) last released its earnings results on Thursday, August 1st. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). The company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $0.50 million. Shattuck Labs had a negative net margin of 2,067.99% and a negative return on equity of 68.65%. Shattuck Labs’s quarterly revenue was up 704.5% on a year-over-year basis. Equities research analysts predict that Shattuck Labs will post -1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shattuck Labs

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Shattuck Labs by 38.2% during the 1st quarter. Vanguard Group Inc. now owns 1,819,926 shares of the company’s stock valued at $16,270,000 after purchasing an additional 502,860 shares during the period. Renaissance Technologies LLC increased its position in shares of Shattuck Labs by 83.1% during the second quarter. Renaissance Technologies LLC now owns 392,010 shares of the company’s stock valued at $1,513,000 after buying an additional 177,910 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Shattuck Labs by 209.7% in the second quarter. Bank of New York Mellon Corp now owns 222,034 shares of the company’s stock worth $857,000 after buying an additional 150,340 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Shattuck Labs by 15.0% in the second quarter. Pinnacle Associates Ltd. now owns 599,423 shares of the company’s stock valued at $2,314,000 after acquiring an additional 78,177 shares during the period. Finally, Ritholtz Wealth Management grew its stake in Shattuck Labs by 57.4% during the second quarter. Ritholtz Wealth Management now owns 142,540 shares of the company’s stock valued at $550,000 after acquiring an additional 52,000 shares in the last quarter. Hedge funds and other institutional investors own 58.74% of the company’s stock.

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.