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

Shattuck Labs (NASDAQ:STTK) was downgraded by investment analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat Ratings reports. They presently have a $8.00 price target on the stock.

Several other research firms have also weighed in on STTK. HC Wainwright lowered 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 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 for the company in a research note on Thursday, August 15th.

Shattuck Labs Trading Up 2.4 %

Shares of NASDAQ:STTK opened at $1.28 on Wednesday. The firm has a 50 day moving average of $3.43 and a 200-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 stock has a market capitalization of $60.87 million, a PE ratio of -0.66 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). The firm had revenue of $1.61 million during 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 revenue for the quarter was up 704.5% compared to the same quarter last year. On average, research analysts predict that Shattuck Labs will post -1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Shattuck Labs

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position 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 in the last quarter. Renaissance Technologies LLC raised 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 worth $1,513,000 after purchasing an additional 177,910 shares during the period. Bank of New York Mellon Corp grew its position in Shattuck Labs by 209.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 222,034 shares of the company’s stock valued at $857,000 after purchasing an additional 150,340 shares during the period. Pinnacle Associates Ltd. increased its stake in Shattuck Labs by 15.0% during the 2nd quarter. Pinnacle Associates Ltd. now owns 599,423 shares of the company’s stock valued at $2,314,000 after purchasing an additional 78,177 shares in the last quarter. Finally, Ritholtz Wealth Management raised its holdings in Shattuck Labs by 57.4% during the second quarter. Ritholtz Wealth Management now owns 142,540 shares of the company’s stock worth $550,000 after buying an additional 52,000 shares during the last quarter. 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.