Shattuck Labs (NASDAQ:STTK) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Shattuck Labs (NASDAQ:STTK) to a strong-buy rating in a report released on Wednesday, Zacks.com reports.

STTK has been the topic of several other reports. BTIG Research cut shares of Shattuck Labs from a buy rating to a neutral rating in a research report on Monday, June 17th. Citigroup downgraded Shattuck Labs from a buy rating to a neutral rating and lowered their target price for the company from $8.00 to $2.00 in a research report on Wednesday. Needham & Company LLC cut Shattuck Labs from a buy rating to a hold rating and set a $8.00 price target for the company. in a research report on Wednesday. Finally, HC Wainwright lowered Shattuck Labs from a buy rating to a neutral rating in a research report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Shattuck Labs has an average rating of Hold and an average target price of $8.67.

Shattuck Labs Stock Performance

NASDAQ:STTK opened at $1.22 on Wednesday. The stock has a 50-day simple moving average of $3.37 and a 200 day simple moving average of $5.96. Shattuck Labs has a 52-week low of $1.15 and a 52-week high of $11.76. The company has a market cap of $58.23 million, a PE ratio of -0.63 and a beta of 1.72.

Shattuck Labs (NASDAQ:STTK) last issued its quarterly earnings results 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). The business had revenue of $1.61 million for the quarter, compared to the consensus estimate of $0.50 million. Shattuck Labs had a negative return on equity of 68.65% and a negative net margin of 2,067.99%. The firm’s quarterly revenue was up 704.5% on a year-over-year basis. On average, research analysts predict that Shattuck Labs will post -1.56 earnings per share for the current fiscal year.

Institutional Trading of Shattuck Labs

Hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company acquired a new stake in Shattuck Labs during the 2nd quarter valued at $67,000. Cannon Global Investment Management LLC bought a new position in Shattuck Labs in the 1st quarter valued at about $91,000. Virtu Financial LLC bought a new stake in shares of Shattuck Labs during the first quarter worth approximately $113,000. Acadian Asset Management LLC acquired a new position in shares of Shattuck Labs in the second quarter valued at approximately $170,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Shattuck Labs during the first quarter worth approximately $174,000. 58.74% of the stock is 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.