Shattuck Labs (NASDAQ:STTK) Downgraded by Citigroup

Shattuck Labs (NASDAQ:STTK - Get Free Report) was downgraded by research analysts at Citigroup from a "buy" rating to a "neutral" rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $2.00 price target on the stock, down from their prior price target of $8.00. Citigroup's price objective points to a potential upside of 60.00% from the stock's current price.

Several other brokerages also recently commented on STTK. HC Wainwright downgraded shares of Shattuck Labs from a "buy" rating to a "neutral" rating in a research report on Tuesday. BTIG Research lowered Shattuck Labs from a "buy" rating to a "neutral" rating in a research note on Monday, June 17th. Finally, Needham & Company LLC lowered Shattuck Labs from a "buy" rating to a "hold" rating and set a $8.00 price target on the stock. in a research note on Wednesday.

Shattuck Labs Trading Down 34.9 %

STTK stock traded down $0.67 during trading hours on Wednesday, hitting $1.25. 3,644,985 shares of the stock were exchanged, compared to its average volume of 431,729. The firm has a market capitalization of $59.44 million, a P/E ratio of -0.65 and a beta of 1.72. The company has a 50-day simple moving average of $3.49 and a two-hundred day simple moving average of $6.04. Shattuck Labs has a 12 month low of $1.18 and a 12 month high of $11.76.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last posted its quarterly earnings data 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 firm 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 company's revenue for the quarter was up 704.5% on a year-over-year basis. On average, equities research analysts predict that Shattuck Labs will post -1.72 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Shattuck Labs by 38.2% in the 1st quarter. Vanguard Group Inc. now owns 1,819,926 shares of the company's stock valued at $16,270,000 after purchasing an additional 502,860 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Shattuck Labs by 83.1% in the 2nd quarter. Renaissance Technologies LLC now owns 392,010 shares of the company's stock valued at $1,513,000 after purchasing an additional 177,910 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Shattuck Labs by 209.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 222,034 shares of the company's stock valued at $857,000 after purchasing an additional 150,340 shares during the period. Pinnacle Associates Ltd. increased its position in Shattuck Labs by 15.0% in the 2nd quarter. Pinnacle Associates Ltd. now owns 599,423 shares of the company's stock valued at $2,314,000 after buying an additional 78,177 shares in the last quarter. Finally, Ritholtz Wealth Management increased its position in Shattuck Labs by 57.4% in the 2nd quarter. Ritholtz Wealth Management now owns 142,540 shares of the company's stock valued at $550,000 after buying an additional 52,000 shares in the last quarter. 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.