Shattuck Labs (NASDAQ:STTK) Downgraded by HC Wainwright

HC Wainwright downgraded shares of Shattuck Labs (NASDAQ:STTK) from a buy rating to a neutral rating in a report issued on Tuesday morning, Marketbeat.com 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.

Several other research analysts also recently issued reports on STTK. Needham & Company LLC reaffirmed a buy rating and set a $8.00 price target on shares of Shattuck Labs in a research note on Friday, August 2nd. Citigroup cut their target price 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.

Shattuck Labs Trading Up 2.4 %

STTK stock opened at $1.28 on Tuesday. Shattuck Labs has a 52 week low of $1.15 and a 52 week high of $11.76. The company has a market cap of $60.87 million, a P/E ratio of -0.66 and a beta of 1.72. The company’s 50-day moving average price is $3.43 and its 200 day moving average price is $6.01.

Shattuck Labs (NASDAQ:STTK) last released its quarterly 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 firm had revenue of $1.61 million during 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 business’s quarterly revenue was up 704.5% on a year-over-year basis. On average, equities research analysts expect that Shattuck Labs will post -1.72 earnings per share for the current year.

Institutional Trading of Shattuck Labs

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in 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 purchasing an additional 502,860 shares during the last quarter. Renaissance Technologies LLC raised 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 valued at $1,513,000 after buying an additional 177,910 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 period. Pinnacle Associates Ltd. boosted 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 worth $2,314,000 after acquiring 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 acquiring an additional 52,000 shares during the period. 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.