Shattuck Labs (NASDAQ:STTK – Get Free Report) was downgraded by research analysts at Needham & Company LLC from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $8.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 316.67% from the stock’s current price.
STTK has been the subject of several other reports. Citigroup lowered their price objective on Shattuck Labs from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. BTIG Research downgraded shares of Shattuck Labs from a “buy” rating to a “neutral” rating in a research note on Monday, June 17th. Finally, HC Wainwright cut shares of Shattuck Labs from a “buy” rating to a “neutral” rating in a research report on Tuesday.
Read Our Latest Stock Analysis on Shattuck Labs
Shattuck Labs Trading Down 45.0 %
Shattuck Labs (NASDAQ:STTK – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). The company had revenue of $1.61 million during the quarter, compared to analyst estimates of $0.50 million. Shattuck Labs had a negative return on equity of 68.65% and a negative net margin of 2,067.99%. The firm’s quarterly revenue was up 704.5% compared to the same quarter last year. Equities research analysts predict that Shattuck Labs will post -1.72 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in shares of Shattuck Labs by 209.7% in the second quarter. Bank of New York Mellon Corp now owns 222,034 shares of the company’s stock worth $857,000 after purchasing an additional 150,340 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Shattuck Labs by 38.2% in the 1st quarter. Vanguard Group Inc. now owns 1,819,926 shares of the company’s stock worth $16,270,000 after acquiring an additional 502,860 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Shattuck Labs in the first quarter valued at about $113,000. Acadian Asset Management LLC bought a new position in shares of Shattuck Labs during the second quarter valued at about $170,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Shattuck Labs during the first quarter worth about $174,000. 58.74% of the stock is owned by 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.
Further Reading
- Five stocks we like better than Shattuck Labs
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Analysts See 180% Upside for Rent the Runway: Should You Buy?
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Ready for Growth? Barrick Gold Stock Could Be the Answer
- Best Aerospace Stocks Investing
- Trade Like a Member of Congress With These 2 ETFs
Receive News & Ratings for Shattuck Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shattuck Labs and related companies with MarketBeat.com's FREE daily email newsletter.