Citigroup Lowers Shattuck Labs (NASDAQ:STTK) to Neutral

Citigroup cut shares of Shattuck Labs (NASDAQ:STTK) from a buy rating to a neutral rating in a report issued on Wednesday, Marketbeat reports. The firm currently has $2.00 price target on the stock, down from their previous price target of $8.00.

STTK has been the topic of several other research reports. BTIG Research downgraded Shattuck Labs from a buy rating to a neutral rating in a report on Monday, June 17th. Needham & Company LLC lowered 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 note on Wednesday. Finally, HC Wainwright lowered shares of Shattuck Labs from a buy rating to a neutral rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $8.67.

Shattuck Labs Trading Down 4.7 %

Shares of NASDAQ:STTK opened at $1.22 on Wednesday. The stock has a market capitalization of $58.01 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. The firm has a fifty day moving average price of $3.43 and a 200 day moving average price of $6.01.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.01). Shattuck Labs had a negative return on equity of 68.65% and a negative net margin of 2,067.99%. The company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $0.50 million. The company’s revenue was up 704.5% on a year-over-year basis. On average, sell-side analysts forecast that Shattuck Labs will post -1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shattuck Labs

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Shattuck Labs by 38.2% during the first 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 during the period. Pinnacle Associates Ltd. grew its position in Shattuck Labs by 15.0% in the 2nd quarter. Pinnacle Associates Ltd. now owns 599,423 shares of the company’s stock worth $2,314,000 after purchasing an additional 78,177 shares during the last quarter. Renaissance Technologies LLC increased 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 worth $1,513,000 after purchasing an additional 177,910 shares during the period. Bank of New York Mellon Corp raised its position in shares of Shattuck Labs by 209.7% during the second quarter. Bank of New York Mellon Corp now owns 222,034 shares of the company’s stock valued at $857,000 after buying an additional 150,340 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its stake in shares of Shattuck Labs by 57.4% in the second quarter. Ritholtz Wealth Management now owns 142,540 shares of the company’s stock valued at $550,000 after buying an additional 52,000 shares during the period. 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.