Shattuck Labs (NASDAQ:STTK) Given New $8.00 Price Target at Needham & Company LLC

Shattuck Labs (NASDAQ:STTK) had its price objective decreased by Needham & Company LLC from $12.00 to $8.00 in a report published on Friday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Separately, HC Wainwright reissued a buy rating and issued a $28.00 price objective on shares of Shattuck Labs in a report on Wednesday, May 15th.

Shattuck Labs Stock Down 19.5 %

Shares of Shattuck Labs stock opened at $4.98 on Friday. The company has a 50 day moving average price of $8.68 and a 200 day moving average price of $8.33. The firm has a market capitalization of $236.80 million, a P/E ratio of -2.58 and a beta of 1.85. Shattuck Labs has a 52 week low of $1.33 and a 52 week high of $11.76.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. Shattuck Labs had a negative net margin of 3,133.63% and a negative return on equity of 64.85%. The business had revenue of $1.15 million during the quarter, compared to analysts’ expectations of $0.30 million. The company’s quarterly revenue was up 2200.0% on a year-over-year basis. As a group, research analysts anticipate that Shattuck Labs will post -1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shattuck Labs

Several hedge funds have recently added to or reduced their stakes in STTK. Franklin Resources Inc. acquired a new position in shares of Shattuck Labs in the 4th quarter valued at about $11,663,000. Monashee Investment Management LLC acquired a new stake in shares of Shattuck Labs during the 4th quarter worth approximately $713,000. Tower Research Capital LLC TRC increased its holdings in shares of Shattuck Labs by 79.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,553 shares of the company’s stock valued at $97,000 after purchasing an additional 5,989 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Shattuck Labs in the 4th quarter valued at $268,000. Finally, Reliant Investment Management LLC purchased a new stake in Shattuck Labs during the fourth quarter worth $143,000. 58.74% of the stock is owned by hedge funds and other institutional investors.

About Shattuck Labs

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.