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

Shattuck Labs (NASDAQ:STTK - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They currently have a $12.00 target price on the stock. Needham & Company LLC's price objective would indicate a potential upside of 33.33% from the company's previous close.

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $28.00 price target on shares of Shattuck Labs in a report on Friday, March 1st.

Shattuck Labs Stock Performance

Shares of NASDAQ STTK traded up $0.21 during midday trading on Tuesday, reaching $9.00. 203,429 shares of the company traded hands, compared to its average volume of 367,493. The firm has a market cap of $427.23 million, a PE ratio of -4.29 and a beta of 2.11. The stock's 50-day simple moving average is $9.16 and its 200-day simple moving average is $5.90. Shattuck Labs has a 12 month low of $1.33 and a 12 month high of $11.11.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.51) by $0.10. Shattuck Labs had a negative return on equity of 63.08% and a negative net margin of 5,268.44%. The business had revenue of $0.71 million during the quarter, compared to analysts' expectations of $0.50 million. On average, equities research analysts expect that Shattuck Labs will post -1.85 EPS for the current year.

Insider Buying and Selling

In related news, insider Stephen Stout sold 16,004 shares of Shattuck Labs 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 directly owns 74,437 shares in the company, valued at $783,821.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Stephen Stout sold 16,004 shares of Shattuck Labs 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 directly owns 74,437 shares in the company, valued at $783,821.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Andrew R. Neill sold 25,000 shares of Shattuck Labs stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $10.00, for a total value of $250,000.00. Following the completion of the sale, the chief financial officer now owns 173,446 shares of the company's stock, valued at $1,734,460. The disclosure for this sale can be found here. Corporate insiders own 9.46% of the company's stock.

Hedge Funds Weigh In On Shattuck Labs

Several institutional investors have recently modified their holdings of the stock. UBS Group AG grew its position in shares of Shattuck Labs by 62.3% during the 1st quarter. UBS Group AG now owns 10,978 shares of the company's stock worth $32,000 after buying an additional 4,214 shares during the period. JPMorgan Chase & Co. grew its position in shares of Shattuck Labs by 20.3% in the 1st quarter. JPMorgan Chase & Co. now owns 25,551 shares of the company's stock valued at $108,000 after purchasing an additional 4,320 shares during the period. Northern Trust Corp grew its position in shares of Shattuck Labs by 6.9% in the 2nd quarter. Northern Trust Corp now owns 70,218 shares of the company's stock valued at $219,000 after purchasing an additional 4,528 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Shattuck Labs by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 55,133 shares of the company's stock valued at $128,000 after purchasing an additional 4,699 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Shattuck Labs by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,173,734 shares of the company's stock valued at $1,784,000 after purchasing an additional 5,138 shares during the period. 58.74% of the stock is currently 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.