Shattuck Labs (NASDAQ:STTK – Get Free Report) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Briefing.com reports. They currently have a $2.00 price objective on the stock, down from their prior price objective of $8.00. Citigroup’s price target indicates a potential upside of 4.17% from the stock’s previous close.
Other research analysts have also issued research reports about the stock. Needham & Company LLC lowered shares of Shattuck Labs from a “buy” rating to a “hold” rating and set a $8.00 price objective on the stock. in a research note on Wednesday. BTIG Research downgraded Shattuck Labs from a “buy” rating to a “neutral” rating in a research note on Monday, June 17th. Finally, HC Wainwright cut Shattuck Labs from a “buy” rating to a “neutral” rating in a research note on Tuesday.
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Shattuck Labs Price Performance
Shattuck Labs (NASDAQ:STTK – Get Free Report) last issued its quarterly earnings data 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 company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $0.50 million. Shattuck Labs had a negative net margin of 2,067.99% and a negative return on equity of 68.65%. The business’s quarterly revenue was up 704.5% compared to the same quarter last year. Equities analysts anticipate that Shattuck Labs will post -1.72 EPS for the current year.
Institutional Trading of Shattuck Labs
A number of institutional investors have recently added to or reduced their stakes in the business. Cannon Global Investment Management LLC bought a new position in Shattuck Labs during the first quarter valued at about $91,000. Virtu Financial LLC bought a new stake in shares of Shattuck Labs during the first quarter worth $113,000. The Manufacturers Life Insurance Company bought a new stake in shares of Shattuck Labs during the second quarter worth approximately $67,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Shattuck Labs in the 1st quarter valued at $174,000. Finally, SG Americas Securities LLC raised its position in shares of Shattuck Labs by 4.8% in the 1st quarter. SG Americas Securities LLC now owns 39,377 shares of the company’s stock valued at $352,000 after acquiring an additional 1,788 shares during the period. 58.74% of the stock is currently owned by institutional investors and hedge funds.
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.
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