HC Wainwright Reiterates “Buy” Rating for Shattuck Labs (NASDAQ:STTK)

HC Wainwright reaffirmed their buy rating on shares of Shattuck Labs (NASDAQ:STTK) in a research report sent to investors on Thursday, Benzinga reports. HC Wainwright currently has a $28.00 target price on the stock.

Separately, Needham & Company LLC restated a buy rating and issued a $12.00 price target on shares of Shattuck Labs in a report on Tuesday, April 9th.

Shattuck Labs Trading Down 2.9 %

Shares of STTK opened at $10.78 on Thursday. Shattuck Labs has a fifty-two week low of $1.33 and a fifty-two week high of $11.62. The stock has a fifty day moving average of $9.42 and a two-hundred day moving average of $7.02.

Shattuck Labs (NASDAQ:STTK) last released its earnings results on Thursday, May 2nd. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.08. The firm had revenue of $1.15 million for the quarter, compared to the consensus estimate of $0.30 million. Shattuck Labs had a negative return on equity of 64.85% and a negative net margin of 3,133.63%. The firm’s revenue for the quarter was up 2200.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Shattuck Labs will post -1.85 earnings per share for the current year.

Insider Buying and Selling at Shattuck Labs

In other news, insider Stephen Stout sold 16,004 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was 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 owns 74,437 shares of the company’s stock, valued at $783,821.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cannon Global Investment Management LLC acquired a new position in Shattuck Labs in the 1st quarter worth $91,000. Tower Research Capital LLC TRC boosted 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 last quarter. Reliant Investment Management LLC acquired a new stake in Shattuck Labs during the 4th quarter valued at approximately $143,000. SG Americas Securities LLC purchased a new stake in Shattuck Labs during the 4th quarter worth approximately $268,000. Finally, Monashee Investment Management LLC acquired a new position in shares of Shattuck Labs in the 4th quarter valued at approximately $713,000. 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.