HC Wainwright Lowers Shattuck Labs (NASDAQ:STTK) to Neutral

HC Wainwright cut shares of Shattuck Labs (NASDAQ:STTK) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, Marketbeat reports. HC Wainwright also issued estimates for Shattuck Labs’ Q3 2024 earnings at ($0.35) EPS, Q4 2024 earnings at ($0.27) EPS, FY2024 earnings at ($1.41) EPS, FY2025 earnings at ($0.75) EPS, FY2026 earnings at ($0.66) EPS, FY2027 earnings at ($0.77) EPS and FY2028 earnings at ($0.91) EPS.

Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC reissued a buy rating and issued a $8.00 price objective on shares of Shattuck Labs in a research note on Friday, August 2nd. Citigroup reduced their price target on shares of Shattuck Labs from $9.00 to $8.00 and set a buy rating for the company in a research report on Thursday, August 15th. Finally, BTIG Research downgraded shares of Shattuck Labs from a buy rating to a neutral rating in a report on Monday, June 17th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $8.67.

Shattuck Labs Stock Performance

Shattuck Labs stock opened at $1.22 on Tuesday. The firm has a market cap of $58.01 million, a price-to-earnings ratio of -0.63 and a beta of 1.72. Shattuck Labs has a 52-week low of $1.15 and a 52-week high of $11.76. The firm has a 50 day moving average price of $3.43 and a two-hundred day moving average price of $6.01.

Shattuck Labs (NASDAQ:STTK) last released its earnings results on Thursday, August 1st. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.01). The business had revenue of $1.61 million for 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. As a group, equities research analysts predict that Shattuck Labs will post -1.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings 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 valued at $16,270,000 after acquiring an additional 502,860 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Shattuck Labs by 83.1% in the second quarter. Renaissance Technologies LLC now owns 392,010 shares of the company’s stock worth $1,513,000 after purchasing an additional 177,910 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 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 valued at $857,000 after purchasing an additional 150,340 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in Shattuck Labs by 15.0% during the second quarter. Pinnacle Associates Ltd. now owns 599,423 shares of the company’s stock valued at $2,314,000 after purchasing an additional 78,177 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in Shattuck Labs by 57.4% in the 2nd quarter. Ritholtz Wealth Management now owns 142,540 shares of the company’s stock worth $550,000 after buying an additional 52,000 shares in the last quarter. 58.74% of the stock is currently owned by hedge funds and other institutional investors.

Shattuck Labs Company Profile

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.