Needham & Company LLC cut shares of Shattuck Labs (NASDAQ:STTK – Free Report) from a buy rating to a hold rating in a research report report published on Wednesday, MarketBeat Ratings reports. Needham & Company LLC currently has $8.00 price target on the stock.
Several other research analysts have also recently issued reports on STTK. BTIG Research cut shares of Shattuck Labs from a buy rating to a neutral rating in a report on Monday, June 17th. HC Wainwright lowered Shattuck Labs from a buy rating to a neutral rating in a research note on Tuesday. Finally, Citigroup lowered their target price on Shattuck Labs from $9.00 to $8.00 and set a buy rating on the stock in a research note on Thursday, August 15th. Four analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $8.67.
Read Our Latest Stock Analysis on Shattuck Labs
Shattuck Labs Stock Performance
Shattuck Labs (NASDAQ:STTK – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.61 million during the quarter, compared to analyst estimates of $0.50 million. The company’s revenue was up 704.5% on a year-over-year basis. As a group, analysts predict that Shattuck Labs will post -1.72 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in STTK. The Manufacturers Life Insurance Company purchased a new stake in shares of Shattuck Labs during the 2nd quarter worth about $67,000. Cannon Global Investment Management LLC purchased a new position in Shattuck Labs during the first quarter worth approximately $91,000. Virtu Financial LLC acquired a new stake in Shattuck Labs in the first quarter valued at approximately $113,000. Acadian Asset Management LLC purchased a new stake in shares of Shattuck Labs in the second quarter valued at approximately $170,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Shattuck Labs during the 1st quarter worth approximately $174,000. Hedge funds and other institutional investors 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.
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