Shattuck Labs (NASDAQ:STTK) Downgraded by Citigroup to “Neutral”

Shattuck Labs (NASDAQ:STTK) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Wednesday, Briefing.com reports. They currently have a $2.00 price target on the stock, down from their prior price target of $8.00. Citigroup’s target price indicates a potential upside of 4.17% from the stock’s previous close.

STTK has been the subject of a number of other research reports. BTIG Research cut Shattuck Labs from a “buy” rating to a “neutral” rating in a report on Monday, June 17th. HC Wainwright lowered Shattuck Labs from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, Needham & Company LLC downgraded Shattuck Labs from a “buy” rating to a “hold” rating and set a $8.00 price target for the company. in a report on Wednesday.

Shattuck Labs Price Performance

Shares of NASDAQ:STTK opened at $1.92 on Wednesday. Shattuck Labs has a one year low of $1.33 and a one year high of $11.76. The stock has a market capitalization of $91.64 million, a PE ratio of -0.99 and a beta of 1.72. The company’s 50-day moving average price is $3.55 and its two-hundred day moving average price is $6.07.

Shattuck Labs (NASDAQ:STTK) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.01). Shattuck Labs had a negative net margin of 2,067.99% and a negative return on equity of 68.65%. The company had revenue of $1.61 million during the quarter, compared to the consensus estimate of $0.50 million. Shattuck Labs’s revenue was up 704.5% compared to the same quarter last year. On average, analysts anticipate that Shattuck Labs will post -1.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Shattuck Labs by 38.2% during the 1st quarter. Vanguard Group Inc. now owns 1,819,926 shares of the company’s stock valued at $16,270,000 after purchasing an additional 502,860 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in Shattuck Labs by 15.0% during the 2nd quarter. Pinnacle Associates Ltd. now owns 599,423 shares of the company’s stock valued at $2,314,000 after acquiring an additional 78,177 shares during the period. Renaissance Technologies LLC increased its position in shares of Shattuck Labs by 83.1% in the second quarter. Renaissance Technologies LLC now owns 392,010 shares of the company’s stock valued at $1,513,000 after acquiring an additional 177,910 shares during the period. Bank of New York Mellon Corp raised its position in Shattuck Labs by 209.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 222,034 shares of the company’s stock valued at $857,000 after purchasing an additional 150,340 shares during the last quarter. Finally, Ritholtz Wealth Management grew its position in shares of Shattuck Labs by 57.4% in the 2nd quarter. Ritholtz Wealth Management now owns 142,540 shares of the company’s stock worth $550,000 after buying an additional 52,000 shares during the last quarter. 58.74% of the stock is currently 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.