Shattuck Labs (NASDAQ:STTK) Given “Hold” Rating at Needham & Company LLC

Shattuck Labs (NASDAQ:STTK)‘s stock had its “hold” rating reaffirmed by analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports.

STTK has been the subject of several other reports. Evercore ISI upgraded Shattuck Labs to a “strong-buy” rating in a report on Wednesday, October 2nd. Citigroup lowered Shattuck Labs from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $8.00 to $2.00 in a research note on Wednesday, October 2nd. Finally, HC Wainwright downgraded shares of Shattuck Labs from a “buy” rating to a “neutral” rating in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.67.

Shattuck Labs Stock Performance

NASDAQ STTK traded up $0.29 on Thursday, hitting $1.51. 510,720 shares of the stock were exchanged, compared to its average volume of 451,225. The stock has a fifty day moving average price of $2.17 and a two-hundred day moving average price of $4.36. The firm has a market capitalization of $71.83 million, a P/E ratio of -0.79 and a beta of 1.85. Shattuck Labs has a 52-week low of $1.07 and a 52-week high of $11.76.

Insiders Place Their Bets

In related news, CEO Taylor Schreiber acquired 36,500 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was acquired at an average price of $1.21 per share, for a total transaction of $44,165.00. Following the purchase, the chief executive officer now owns 71,002 shares of the company’s stock, valued at $85,912.42. This represents a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its position 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 purchasing an additional 150,340 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Shattuck Labs by 38.2% during the 1st quarter. Vanguard Group Inc. now owns 1,819,926 shares of the company’s stock worth $16,270,000 after buying an additional 502,860 shares during the last quarter. Virtu Financial LLC bought a new position in Shattuck Labs during the 1st quarter worth approximately $113,000. American Century Companies Inc. lifted its holdings in shares of Shattuck Labs by 25.4% in the 2nd quarter. American Century Companies Inc. now owns 47,367 shares of the company’s stock worth $183,000 after purchasing an additional 9,608 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Shattuck Labs in the 2nd quarter worth approximately $170,000. Institutional investors and hedge funds 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.