Needham & Company LLC Reiterates “Buy” Rating for Shattuck Labs (NASDAQ:STTK)

Shattuck Labs (NASDAQ:STTK)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $12.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 11.32% from the stock’s previous close.

Separately, HC Wainwright reiterated a “buy” rating and issued a $28.00 price target on shares of Shattuck Labs in a research note on Thursday.

Shattuck Labs Stock Performance

STTK stock opened at $10.78 on Friday. Shattuck Labs has a twelve month low of $1.33 and a twelve month high of $11.62. The business has a 50 day moving average price of $9.42 and a two-hundred day moving average price of $6.95.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.08. The firm had revenue of $1.15 million during the quarter, compared to analysts’ expectations of $0.30 million. Shattuck Labs had a negative net margin of 3,133.63% and a negative return on equity of 64.46%. The company’s quarterly revenue was up 2200.0% on a year-over-year basis. Equities research analysts forecast that Shattuck Labs will post -1.85 EPS for the current fiscal year.

Insider Activity at Shattuck Labs

In other news, insider Stephen Stout sold 16,004 shares of the firm’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 sale, the insider now directly owns 74,437 shares in the company, valued at approximately $783,821.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Shattuck Labs

Several large investors have recently bought and sold shares of STTK. Cannon Global Investment Management LLC acquired a new position in Shattuck Labs in the 1st quarter valued at approximately $91,000. Tower Research Capital LLC TRC increased its holdings in Shattuck Labs by 79.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,553 shares of the company’s stock valued at $97,000 after purchasing an additional 5,989 shares during the period. Reliant Investment Management LLC acquired a new stake in Shattuck Labs in the fourth quarter valued at $143,000. SG Americas Securities LLC bought a new position in Shattuck Labs during the 4th quarter worth $268,000. Finally, Monashee Investment Management LLC acquired a new position in Shattuck Labs during the 4th quarter worth about $713,000. 58.74% of the stock is currently owned by institutional investors.

Shattuck Labs Company Profile

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.