Shattuck Labs (NASDAQ:STTK) Lowered to “Hold” at Needham & Company LLC

Needham & Company LLC lowered shares of Shattuck Labs (NASDAQ:STTK) from a buy rating to a hold rating in a research note released on Wednesday morning, MarketBeat Ratings reports. The firm currently has $8.00 target price on the stock.

Several other research firms also recently weighed in on STTK. HC Wainwright downgraded shares of Shattuck Labs from a buy rating to a neutral rating in a research note on Tuesday. BTIG Research lowered shares of Shattuck Labs from a buy rating to a neutral rating in a research note on Monday, June 17th. Finally, Citigroup lowered their target price on Shattuck Labs from $9.00 to $8.00 and set a buy rating on the stock in a report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $8.67.

Shattuck Labs Trading Down 4.7 %

NASDAQ:STTK opened at $1.22 on Wednesday. The stock has a 50 day moving average of $3.43 and a two-hundred day moving average of $6.01. Shattuck Labs has a 12 month low of $1.15 and a 12 month high of $11.76. The firm has a market cap of $58.01 million, a P/E ratio of -0.63 and a beta of 1.72.

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

Hedge Funds Weigh In On Shattuck Labs

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Shattuck Labs by 38.2% in the 1st 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. Pinnacle Associates Ltd. lifted its holdings in 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 last quarter. Renaissance Technologies LLC grew its position in Shattuck Labs by 83.1% in the second quarter. Renaissance Technologies LLC now owns 392,010 shares of the company’s stock worth $1,513,000 after acquiring an additional 177,910 shares during the period. Bank of New York Mellon Corp increased its stake 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 worth $857,000 after acquiring an additional 150,340 shares during the last quarter. Finally, Ritholtz Wealth Management raised its position in Shattuck Labs by 57.4% in the second quarter. Ritholtz Wealth Management now owns 142,540 shares of the company’s stock valued at $550,000 after purchasing an additional 52,000 shares during the period. 58.74% of the stock is owned by hedge funds and other institutional investors.

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.