Leerink Partners Cuts Shattuck Labs (NASDAQ:STTK) Price Target to $2.00

Shattuck Labs (NASDAQ:STTK) had its target price reduced by equities researchers at Leerink Partners from $4.00 to $2.00 in a research note issued on Thursday, Marketbeat reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ target price would indicate a potential upside of 100.00% from the company’s previous close.

Separately, Needham & Company LLC restated a “hold” rating on shares of Shattuck Labs in a research report on Thursday. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Shattuck Labs Stock Performance

Shares of NASDAQ STTK opened at $1.00 on Thursday. The firm’s 50 day moving average price is $0.87 and its 200-day moving average price is $1.01. The company has a market cap of $47.90 million, a PE ratio of -0.83 and a beta of 1.63. Shattuck Labs has a 52-week low of $0.69 and a 52-week high of $3.95.

Shattuck Labs (NASDAQ:STTK) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.01. On average, analysts forecast that Shattuck Labs will post -1.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prosight Management LP increased its holdings in Shattuck Labs by 15.1% during the fourth quarter. Prosight Management LP now owns 6,638,935 shares of the company’s stock valued at $8,033,000 after buying an additional 873,409 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Shattuck Labs by 61.2% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,675,000 shares of the company’s stock valued at $5,657,000 after buying an additional 1,775,000 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in Shattuck Labs by 4.9% during the second quarter. Pinnacle Associates Ltd. now owns 1,363,723 shares of the company’s stock valued at $1,080,000 after buying an additional 64,000 shares during the last quarter. 683 Capital Management LLC increased its holdings in Shattuck Labs by 4.3% during the second quarter. 683 Capital Management LLC now owns 1,095,000 shares of the company’s stock valued at $867,000 after buying an additional 45,000 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Shattuck Labs by 9.2% during the fourth quarter. Northern Trust Corp now owns 353,616 shares of the company’s stock valued at $428,000 after buying an additional 29,870 shares during the last quarter. Institutional investors own 58.74% of the company’s stock.

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.