Shattuck Labs (NASDAQ:STTK) Price Target Lowered to $16.00 at HC Wainwright

Shattuck Labs (NASDAQ:STTK) had its target price cut by investment analysts at HC Wainwright from $28.00 to $16.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 248.58% from the company’s previous close.

Several other analysts have also weighed in on the company. Needham & Company LLC decreased their price objective on Shattuck Labs from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, June 14th. BTIG Research cut Shattuck Labs from a “buy” rating to a “neutral” rating in a research report on Monday. Finally, Citigroup reduced their target price on shares of Shattuck Labs from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday.

Shattuck Labs Price Performance

Shattuck Labs stock opened at $4.59 on Thursday. The company has a market capitalization of $218.25 million, a price-to-earnings ratio of -2.38 and a beta of 1.85. The company’s fifty day moving average price is $8.59 and its two-hundred day moving average price is $8.35. Shattuck Labs has a one year low of $1.33 and a one year high of $11.76.

Shattuck Labs (NASDAQ:STTK) last released its earnings results on Thursday, May 2nd. The company reported ($0.37) earnings per share 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 firm had revenue of $1.15 million during the quarter, compared to analyst estimates of $0.30 million. The company’s quarterly revenue was up 2200.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Shattuck Labs will post -1.56 earnings per share for the current year.

Institutional Investors Weigh In On Shattuck Labs

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in 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 last quarter. Tower Research Capital LLC TRC raised its stake in shares of Shattuck Labs by 79.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,553 shares of the company’s stock worth $97,000 after buying an additional 5,989 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in Shattuck Labs in the first quarter valued at approximately $91,000. Virtu Financial LLC bought a new position in Shattuck Labs in the first quarter valued at approximately $113,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Shattuck Labs during the 1st quarter worth $174,000. 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.