Shattuck Labs’ (STTK) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Shattuck Labs (NASDAQ:STTK) in a report published on Thursday morning,Benzinga reports.

Several other research firms also recently commented on STTK. Citigroup downgraded shares of Shattuck Labs from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $8.00 to $2.00 in a research note on Wednesday, October 2nd. HC Wainwright cut Shattuck Labs from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 1st. Finally, Evercore ISI raised Shattuck Labs to a “strong-buy” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $8.67.

Shattuck Labs Stock Down 9.9 %

Shares of Shattuck Labs stock opened at $1.24 on Thursday. The company has a 50 day moving average price of $2.08 and a 200 day moving average price of $4.23. Shattuck Labs has a 52 week low of $1.07 and a 52 week high of $11.76.

Insider Buying and Selling

In other news, CEO Taylor Schreiber acquired 36,500 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were acquired at an average price of $1.21 per share, with a total value of $44,165.00. Following the purchase, the chief executive officer now directly owns 71,002 shares of the company’s stock, valued at $85,912.42. This trade represents a 105.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Shattuck Labs

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Shattuck Labs by 38.2% in 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. Renaissance Technologies LLC raised its holdings in Shattuck Labs by 83.1% in 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 holdings in Shattuck Labs by 209.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 222,034 shares of the company’s stock worth $857,000 after purchasing 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 purchasing an additional 78,177 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC grew its holdings in Shattuck Labs by 83.7% in the third quarter. Villere ST Denis J & Co. LLC now owns 132,600 shares of the company’s stock valued at $463,000 after purchasing an additional 60,400 shares during the period. 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.