Shattuck Labs (NASDAQ:STTK) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Shattuck Labs (NASDAQ:STTK) in a research note released on Thursday,Benzinga reports.

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

Shattuck Labs Stock Performance

Shares of Shattuck Labs stock opened at $1.24 on Thursday. The business has a 50-day simple moving average of $2.08 and a 200-day simple moving average of $4.19. The company has a market cap of $58.95 million, a PE ratio of -0.81 and a beta of 1.85. Shattuck Labs has a one year low of $1.07 and a one year 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 on Monday, October 7th. The shares were bought at an average price of $1.21 per share, with a total value of $44,165.00. Following the completion of the acquisition, the chief executive officer now owns 71,002 shares in the company, valued at $85,912.42. This trade represents a 105.79 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 10.50% of the stock is owned by company insiders.

Institutional Trading of Shattuck Labs

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Shattuck Labs by 38.2% during the 1st quarter. Vanguard Group Inc. now owns 1,819,926 shares of the company’s stock worth $16,270,000 after buying an additional 502,860 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Shattuck Labs by 83.1% during the second quarter. Renaissance Technologies LLC now owns 392,010 shares of the company’s stock worth $1,513,000 after acquiring an additional 177,910 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 valued at $857,000 after acquiring an additional 150,340 shares during the period. Pinnacle Associates Ltd. raised 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 valued at $2,314,000 after purchasing an additional 78,177 shares during the last quarter. Finally, Villere ST Denis J & Co. LLC boosted its stake in Shattuck Labs by 83.7% during the 3rd quarter. Villere ST Denis J & Co. LLC now owns 132,600 shares of the company’s stock worth $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.