Needham & Company LLC Reiterates “Hold” Rating for Shattuck Labs (NASDAQ:STTK)

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

STTK has been the subject of several other research reports. HC Wainwright lowered Shattuck Labs from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 1st. Citigroup cut Shattuck Labs from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $8.00 to $2.00 in a report on Wednesday, October 2nd. Finally, Evercore ISI upgraded Shattuck Labs to a “strong-buy” rating in a report on Wednesday, October 2nd. Four equities research 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, the stock has an average rating of “Hold” and a consensus target price of $8.67.

Shattuck Labs Stock Down 9.9 %

STTK stock opened at $1.24 on Thursday. The company has a fifty day simple moving average of $2.08 and a two-hundred day simple moving average of $4.28. Shattuck Labs has a 52 week low of $1.07 and a 52 week high of $11.76. The firm has a market capitalization of $58.94 million, a P/E ratio of -0.67 and a beta of 1.85.

Insider Buying and Selling at Shattuck Labs

In other Shattuck Labs news, CEO Taylor Schreiber acquired 36,500 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was purchased at an average price of $1.21 per share, for a total transaction of $44,165.00. Following the acquisition, the chief executive officer now owns 71,002 shares in the company, valued at approximately $85,912.42. This trade represents a 105.79 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 10.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Atom Investors LP purchased a new stake in shares of Shattuck Labs during the third quarter worth about $35,000. Readystate Asset Management LP acquired a new stake in Shattuck Labs in the 3rd quarter worth approximately $39,000. Virtu Financial LLC purchased a new stake in Shattuck Labs during the 1st quarter worth approximately $113,000. The Manufacturers Life Insurance Company acquired a new position in Shattuck Labs during the 2nd quarter valued at approximately $67,000. Finally, Benjamin Edwards Inc. purchased a new position in shares of Shattuck Labs in the third quarter worth $61,000. 58.74% of the stock is owned by institutional investors and hedge funds.

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.