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

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

STTK has been the subject of a number of other research reports. BTIG Research downgraded shares of Shattuck Labs from a buy rating to a neutral rating in a report on Monday, June 17th. HC Wainwright lowered shares of Shattuck Labs from a buy rating to a neutral rating in a research report on Tuesday, October 1st. Finally, Citigroup cut their target price on shares of Shattuck Labs from $9.00 to $8.00 and set a buy rating for the company in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $8.67.

Shattuck Labs Stock Performance

NASDAQ STTK opened at $1.22 on Wednesday. Shattuck Labs has a 52-week low of $1.15 and a 52-week high of $11.76. The company has a 50-day simple moving average of $3.37 and a 200 day simple moving average of $5.96. The company has a market capitalization of $58.23 million, a PE ratio of -0.63 and a beta of 1.72.

Shattuck Labs (NASDAQ:STTK) last posted 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). Shattuck Labs had a negative return on equity of 68.65% and a negative net margin of 2,067.99%. The company had revenue of $1.61 million for the quarter, compared to analysts’ expectations of $0.50 million. The business’s revenue was up 704.5% compared to the same quarter last year. As a group, analysts forecast that Shattuck Labs will post -1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Shattuck Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cannon Global Investment Management LLC bought a new position in Shattuck Labs during the first quarter worth about $91,000. Virtu Financial LLC bought a new position in shares of Shattuck Labs in the first quarter valued at approximately $113,000. The Manufacturers Life Insurance Company bought a new position in shares of Shattuck Labs in the second quarter valued at approximately $67,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Shattuck Labs in the first quarter valued at approximately $174,000. Finally, SG Americas Securities LLC boosted its position in shares of Shattuck Labs by 4.8% in 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 during the period. 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.