Shattuck Labs (NASDAQ:STTK) Stock Rating Lowered by Needham & Company LLC

Shattuck Labs (NASDAQ:STTK) was downgraded by stock analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Wednesday, MarketBeat.com reports. They currently have a $8.00 price target on the stock.

Several other equities research analysts also recently issued reports on the company. BTIG Research downgraded Shattuck Labs from a “buy” rating to a “neutral” rating in a report on Monday, June 17th. HC Wainwright downgraded shares of Shattuck Labs from a “buy” rating to a “neutral” rating in a report on Tuesday. Finally, Citigroup lowered their price target on shares of Shattuck Labs from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, August 15th.

Shattuck Labs Price Performance

Shattuck Labs stock opened at $1.28 on Wednesday. Shattuck Labs has a fifty-two week low of $1.15 and a fifty-two week high of $11.76. The firm has a market capitalization of $60.87 million, a PE ratio of -0.66 and a beta of 1.72. The company’s 50-day moving average is $3.43 and its 200-day moving average is $6.01.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.01). Shattuck Labs had a negative net margin of 2,067.99% and a negative return on equity of 68.65%. The business had revenue of $1.61 million during the quarter, compared to the consensus estimate of $0.50 million. The business’s revenue for the quarter was up 704.5% compared to the same quarter last year. As a group, analysts expect that Shattuck Labs will post -1.72 EPS for the current year.

Institutional Investors Weigh In On Shattuck Labs

A number of hedge funds and other institutional investors have recently modified their holdings of STTK. Cannon Global Investment Management LLC acquired a new position in shares of Shattuck Labs in the first quarter valued at about $91,000. Pinnacle Associates Ltd. grew its position in shares of Shattuck Labs by 13.9% during the 1st quarter. Pinnacle Associates Ltd. now owns 521,246 shares of the company’s stock worth $4,660,000 after purchasing an additional 63,800 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Shattuck Labs by 4.8% during the 1st quarter. SG Americas Securities LLC now owns 39,377 shares of the company’s stock worth $352,000 after purchasing an additional 1,788 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Shattuck Labs during the first quarter worth approximately $174,000. Finally, Vanguard Group Inc. raised its position in shares of Shattuck Labs by 38.2% in the first quarter. Vanguard Group Inc. now owns 1,819,926 shares of the company’s stock valued at $16,270,000 after buying an additional 502,860 shares in the last quarter. Institutional investors and hedge funds own 58.74% of the company’s stock.

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.