Shattuck Labs (NASDAQ:STTK) Downgraded to Neutral at Citigroup

Citigroup downgraded shares of Shattuck Labs (NASDAQ:STTK) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports. The brokerage currently has $2.00 target price on the stock, down from their prior target price of $8.00.

A number of other analysts also recently weighed in on the stock. Needham & Company LLC downgraded shares of Shattuck Labs from a buy rating to a hold rating and set a $8.00 target price on the stock. in a research report on Wednesday. HC Wainwright downgraded shares of Shattuck Labs from a buy rating to a neutral rating in a research report on Tuesday, October 1st. Finally, BTIG Research downgraded shares of Shattuck Labs from a buy rating to a neutral rating in a research report on Monday, June 17th. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $8.67.

Shattuck Labs Price Performance

NASDAQ:STTK opened at $1.22 on Wednesday. The firm’s 50-day moving average price is $3.37 and its 200-day moving average price is $5.96. The company has a market capitalization of $58.23 million, a PE ratio of -0.63 and a beta of 1.72. Shattuck Labs has a 1-year low of $1.15 and a 1-year high of $11.76.

Shattuck Labs (NASDAQ:STTK) last released its earnings results on Thursday, August 1st. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). The business had revenue of $1.61 million during the quarter, compared to analysts’ expectations 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 revenue was up 704.5% on a year-over-year basis. Equities analysts anticipate that Shattuck Labs will post -1.56 EPS for the current fiscal year.

Institutional Trading of Shattuck Labs

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Shattuck Labs by 38.2% during 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 during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Shattuck Labs by 83.1% during the 2nd quarter. Renaissance Technologies LLC now owns 392,010 shares of the company’s stock valued at $1,513,000 after acquiring an additional 177,910 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Shattuck Labs by 209.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 222,034 shares of the company’s stock valued at $857,000 after acquiring an additional 150,340 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of Shattuck Labs by 15.0% during the 2nd quarter. Pinnacle Associates Ltd. now owns 599,423 shares of the company’s stock valued at $2,314,000 after acquiring an additional 78,177 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in shares of Shattuck Labs by 57.4% during the 2nd quarter. Ritholtz Wealth Management now owns 142,540 shares of the company’s stock valued at $550,000 after acquiring an additional 52,000 shares during the last quarter. 58.74% of the stock is owned by hedge funds and other 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.