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

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

A number of other equities research analysts have also issued reports on the stock. Evercore ISI raised shares of Shattuck Labs to a “strong-buy” rating in a report on Wednesday, October 2nd. HC Wainwright cut shares of Shattuck Labs from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 1st. Finally, Citigroup lowered shares of Shattuck Labs from a “buy” rating to a “neutral” rating and reduced their price target for the company from $8.00 to $2.00 in a research report on Wednesday, October 2nd. Four equities research 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 currently has a consensus rating of “Hold” and a consensus target price of $8.67.

Shattuck Labs Stock Performance

Shares of Shattuck Labs stock opened at $1.24 on Thursday. The business’s 50 day moving average price is $2.08 and its 200 day moving average price is $4.19. The company has a market cap of $58.95 million, a price-to-earnings 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.

Insiders Place Their Bets

In related news, CEO Taylor Schreiber acquired 36,500 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were purchased at an average cost of $1.21 per share, for a total transaction of $44,165.00. Following the acquisition, the chief executive officer now owns 71,002 shares in the company, valued at $85,912.42. The trade was a 105.79 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in STTK. Atom Investors LP purchased a new stake in shares of Shattuck Labs in the 3rd quarter valued at $35,000. Readystate Asset Management LP purchased a new stake in Shattuck Labs during the third quarter worth about $39,000. Benjamin Edwards Inc. acquired a new stake in shares of Shattuck Labs during the third quarter worth about $61,000. The Manufacturers Life Insurance Company purchased a new position in shares of Shattuck Labs in the second quarter valued at approximately $67,000. Finally, MetLife Investment Management LLC grew its holdings in shares of Shattuck Labs by 129.1% in the third quarter. MetLife Investment Management LLC now owns 24,596 shares of the company’s stock valued at $86,000 after purchasing an additional 13,859 shares in the last quarter. 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.