Pinnacle Associates Ltd. Sells 141,977 Shares of Shattuck Labs, Inc. (NASDAQ:STTK)

Pinnacle Associates Ltd. lessened its stake in shares of Shattuck Labs, Inc. (NASDAQ:STTK) by 23.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 457,446 shares of the company’s stock after selling 141,977 shares during the period. Pinnacle Associates Ltd.’s holdings in Shattuck Labs were worth $1,596,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of STTK. SG Americas Securities LLC raised its stake in shares of Shattuck Labs by 4.8% during the first quarter. SG Americas Securities LLC now owns 39,377 shares of the company’s stock valued at $352,000 after acquiring an additional 1,788 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Shattuck Labs during the first quarter valued at approximately $174,000. Vanguard Group Inc. increased its holdings in Shattuck Labs by 38.2% during the first quarter. Vanguard Group Inc. now owns 1,819,926 shares of the company’s stock valued at $16,270,000 after buying an additional 502,860 shares during the period. Virtu Financial LLC purchased a new position in Shattuck Labs during the first quarter valued at approximately $113,000. Finally, Bank of New York Mellon Corp increased its holdings in Shattuck Labs by 209.7% during the second quarter. Bank of New York Mellon Corp now owns 222,034 shares of the company’s stock valued at $857,000 after buying an additional 150,340 shares during the period. Institutional investors own 58.74% of the company’s stock.

Wall Street Analysts Forecast Growth

STTK has been the topic of several research reports. Evercore ISI raised shares of Shattuck Labs to a “strong-buy” rating in a report on Wednesday, October 2nd. HC Wainwright lowered shares of Shattuck Labs from a “buy” rating to a “neutral” rating in a report on Tuesday, October 1st. Citigroup lowered shares of Shattuck Labs from a “buy” rating to a “neutral” rating and cut their price objective for the company from $8.00 to $2.00 in a report on Wednesday, October 2nd. Finally, Needham & Company LLC lowered shares of Shattuck Labs from a “buy” rating to a “hold” rating and set a $8.00 price target on the stock. in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.67.

Shattuck Labs Trading Down 0.8 %

NASDAQ STTK opened at $1.25 on Friday. The firm’s fifty day simple moving average is $2.54 and its two-hundred day simple moving average is $4.88. Shattuck Labs, Inc. has a 12-month low of $1.07 and a 12-month high of $11.76. The firm has a market capitalization of $59.66 million, a P/E ratio of -0.68 and a beta of 1.72.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings data 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 analysts’ expectations 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 revenue was up 704.5% compared to the same quarter last year. As a group, sell-side analysts predict that Shattuck Labs, Inc. will post -1.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Taylor Schreiber acquired 36,500 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were purchased at an average cost of $1.21 per share, with a total value of $44,165.00. Following the completion of the acquisition, the chief executive officer now directly owns 71,002 shares of the company’s stock, valued at $85,912.42. This represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.50% 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.