Shattuck Labs (NASDAQ:STTK) Price Target Cut to $8.00

Shattuck Labs (NASDAQ:STTKFree Report) had its price target decreased by Needham & Company LLC from $12.00 to $8.00 in a research note issued to investors on Friday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Separately, HC Wainwright restated a buy rating and issued a $28.00 price target on shares of Shattuck Labs in a research report on Wednesday, May 15th.

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Shattuck Labs Stock Down 9.5 %

Shattuck Labs stock opened at $6.19 on Friday. Shattuck Labs has a twelve month low of $1.33 and a twelve month high of $11.76. The stock’s 50 day moving average is $8.75 and its 200 day moving average is $8.31. The company has a market capitalization of $294.33 million, a P/E ratio of -3.21 and a beta of 1.85.

Shattuck Labs (NASDAQ:STTKGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. Shattuck Labs had a negative return on equity of 64.85% and a negative net margin of 3,133.63%. The business had revenue of $1.15 million during the quarter, compared to analyst estimates of $0.30 million. The company’s revenue was up 2200.0% on a year-over-year basis. As a group, equities analysts expect that Shattuck Labs will post -1.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cannon Global Investment Management LLC purchased a new position in Shattuck Labs during the 1st quarter valued at $91,000. Tower Research Capital LLC TRC lifted its position in Shattuck Labs by 79.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,553 shares of the company’s stock valued at $97,000 after acquiring an additional 5,989 shares during the last quarter. Virtu Financial LLC acquired a new stake in Shattuck Labs in the first quarter valued at approximately $113,000. Reliant Investment Management LLC purchased a new stake in Shattuck Labs in the fourth quarter valued at about $143,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Shattuck Labs during the 1st quarter worth approximately $174,000. Hedge funds and other institutional investors own 58.74% of the company’s stock.

About Shattuck Labs

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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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