Shattuck Labs (NASDAQ:STTK) Stock Rating Reaffirmed by HC Wainwright

Shattuck Labs (NASDAQ:STTK)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They presently have a $28.00 price objective on the stock. HC Wainwright’s price objective would suggest a potential upside of 159.74% from the company’s previous close.

Separately, Needham & Company LLC reissued a “buy” rating and set a $12.00 target price on shares of Shattuck Labs in a report on Tuesday, April 9th.

Shattuck Labs Stock Performance

Shares of Shattuck Labs stock traded down $0.32 during midday trading on Thursday, hitting $10.78. 255,663 shares of the company traded hands, compared to its average volume of 294,183. Shattuck Labs has a 12 month low of $1.33 and a 12 month high of $11.62. The stock has a market cap of $512.59 million, a price-to-earnings ratio of -5.59 and a beta of 1.98. The firm’s fifty day moving average price is $9.42 and its 200-day moving average price is $6.95.

Shattuck Labs (NASDAQ:STTK) last posted 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 64.46%. The firm had revenue of $1.15 million for the quarter, compared to analyst estimates of $0.30 million. The firm’s revenue was up 2200.0% compared to the same quarter last year. Equities research analysts forecast that Shattuck Labs will post -1.85 earnings per share for the current year.

Insider Activity

In other news, insider Stephen Stout sold 16,004 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $10.53, for a total value of $168,522.12. Following the sale, the insider now directly owns 74,437 shares of the company’s stock, valued at approximately $783,821.61. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 9.89% of the company’s stock.

Institutional Investors Weigh In On Shattuck Labs

A number of institutional investors have recently modified their holdings of STTK. Franklin Resources Inc. acquired a new position in shares of Shattuck Labs during the 4th quarter valued at $11,663,000. Monashee Investment Management LLC acquired a new position in shares of Shattuck Labs during the 4th quarter valued at $713,000. Pinnacle Associates Ltd. lifted 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 valued at $4,660,000 after acquiring an additional 63,800 shares during the period. SG Americas Securities LLC acquired a new position in shares of Shattuck Labs during the 4th quarter valued at $268,000. Finally, Reliant Investment Management LLC acquired a new position in shares of Shattuck Labs during the 4th quarter valued at $143,000. 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.