Needham & Company LLC reissued their buy rating on shares of Shattuck Labs (NASDAQ:STTK – Free Report) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $12.00 price target on the stock.
Separately, HC Wainwright reiterated a buy rating and set a $28.00 price objective on shares of Shattuck Labs in a report on Thursday.
View Our Latest Analysis on STTK
Shattuck Labs Trading Up 2.9 %
Shattuck Labs (NASDAQ:STTK – Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.08. Shattuck Labs had a negative net margin of 3,133.63% and a negative return on equity of 64.85%. The business had revenue of $1.15 million during the quarter, compared to analyst estimates of $0.30 million. Shattuck Labs’s revenue for the quarter was up 2200.0% compared to the same quarter last year. Equities analysts forecast that Shattuck Labs will post -1.85 earnings per share for the current year.
Insider Activity at Shattuck Labs
In other Shattuck Labs news, insider Stephen Stout sold 16,004 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $10.53, for a total value of $168,522.12. Following the completion of the sale, the insider now directly owns 74,437 shares of the company’s stock, valued at $783,821.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.50% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Pinnacle Associates Ltd. increased its holdings in shares of Shattuck Labs by 13.9% during the 1st quarter. Pinnacle Associates Ltd. now owns 521,246 shares of the company’s stock valued at $4,660,000 after acquiring an additional 63,800 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of Shattuck Labs during the 1st quarter valued at about $91,000. Tower Research Capital LLC TRC increased its holdings in shares of Shattuck Labs by 79.2% during the 4th 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. Monashee Investment Management LLC bought a new stake in Shattuck Labs during the 4th quarter valued at approximately $713,000. Finally, Franklin Resources Inc. bought a new stake in shares of Shattuck Labs in the 4th quarter worth approximately $11,663,000. Institutional investors and hedge funds own 58.74% of the company’s stock.
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.
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