Wall Street Zen Upgrades Shattuck Labs (NASDAQ:STTK) to “Hold”

Shattuck Labs (NASDAQ:STTK) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Other equities analysts have also recently issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Shattuck Labs in a research note on Thursday, August 14th. Leerink Partners decreased their price target on Shattuck Labs from $4.00 to $2.00 and set an “outperform” rating for the company in a research note on Thursday, August 14th. Finally, Wedbush initiated coverage on Shattuck Labs in a report on Monday, September 8th. They issued an “outperform” rating and a $4.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4.00.

Shattuck Labs Stock Performance

Shares of STTK opened at $1.92 on Friday. Shattuck Labs has a fifty-two week low of $0.69 and a fifty-two week high of $3.95. The stock has a market capitalization of $91.97 million, a PE ratio of -1.59 and a beta of 1.64. The company has a 50 day moving average price of $1.00 and a 200-day moving average price of $1.01.

Shattuck Labs (NASDAQ:STTK) last issued its earnings results on Thursday, August 14th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.01. Equities research analysts forecast that Shattuck Labs will post -1.48 EPS for the current year.

Insider Transactions at Shattuck Labs

In other Shattuck Labs news, Director Orbimed Advisors Llc acquired 6,306,127 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average cost of $0.87 per share, with a total value of $5,486,330.49. Following the completion of the acquisition, the director directly owned 5,255,106 shares in the company, valued at $4,571,942.22. This represents a -600.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mona Ashiya bought 6,306,127 shares of the stock in a transaction on Monday, August 25th. The stock was purchased at an average price of $0.87 per share, with a total value of $5,486,330.49. Following the completion of the purchase, the director owned 5,255,106 shares of the company’s stock, valued at $4,571,942.22. This represents a -600.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 12.00% of the company’s stock.

Institutional Investors Weigh In On Shattuck Labs

A number of hedge funds and other institutional investors have recently modified their holdings of STTK. Jane Street Group LLC boosted its holdings in shares of Shattuck Labs by 2,510.8% in the second quarter. Jane Street Group LLC now owns 289,671 shares of the company’s stock valued at $229,000 after acquiring an additional 278,576 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Shattuck Labs in the second quarter valued at about $98,000. Bank of America Corp DE boosted its holdings in shares of Shattuck Labs by 135.0% in the fourth quarter. Bank of America Corp DE now owns 187,089 shares of the company’s stock valued at $226,000 after acquiring an additional 107,491 shares in the last quarter. ADAR1 Capital Management LLC purchased a new stake in shares of Shattuck Labs in the first quarter valued at about $97,000. Finally, Deutsche Bank AG boosted its holdings in shares of Shattuck Labs by 476.4% in the fourth quarter. Deutsche Bank AG now owns 116,868 shares of the company’s stock valued at $141,000 after acquiring an additional 96,594 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.