Shattuck Labs (NASDAQ:STTK) Rating Increased to Hold at Wall Street Zen

Key Points

• Shattuck Labs' rating was upgraded from "sell" to "hold" by Wall Street Zen, indicating a more favorable outlook from analysts.
• The stock currently has a consensus rating of "Moderate Buy" with a price target of $4.00 according to MarketBeat.
• Insider transactions included significant purchases by directors, with >600% increase in their ownership, reflecting confidence in the company's future.

Wall Street Zen upgraded shares of Shattuck Labs (NASDAQ:STTK - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.

STTK has been the subject of a number of other reports. Needham & Company LLC reiterated a "hold" rating on shares of Shattuck Labs in a report on Thursday, August 14th. Leerink Partners reduced their price objective on shares of Shattuck Labs from $4.00 to $2.00 and set an "outperform" rating for the company in a report on Thursday, August 14th. Finally, Wedbush initiated coverage on shares of Shattuck Labs in a report on Monday, September 8th. They set an "outperform" rating and a $4.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Shattuck Labs has an average rating of "Moderate Buy" and a consensus price target of $4.00.

Shattuck Labs Stock Up 14.9%

STTK traded up $0.29 during midday trading on Friday, hitting $2.23. The company had a trading volume of 438,620 shares, compared to its average volume of 1,551,830. Shattuck Labs has a 52 week low of $0.69 and a 52 week high of $3.95. The company has a market capitalization of $106.82 million, a price-to-earnings ratio of -1.84 and a beta of 1.64. The stock's 50 day moving average price is $1.10 and its 200 day moving average price is $1.03.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.01. Research analysts predict that Shattuck Labs will post -1.48 EPS for the current year.

Insider Transactions at Shattuck Labs

In related news, Director Mona Ashiya bought 6,306,127 shares of the company's stock in a transaction on Monday, August 25th. The shares were purchased at an average cost of $0.87 per share, for a total transaction of $5,486,330.49. Following the completion of the purchase, the director directly owned 5,255,106 shares in the company, valued at $4,571,942.22. The trade was a -600.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Orbimed Advisors Llc bought 6,306,127 shares of the company's stock in a transaction on Monday, August 25th. The stock was bought at an average price of $0.87 per share, for a total transaction of $5,486,330.49. Following the completion of the purchase, the director owned 5,255,106 shares of the company's stock, valued at approximately $4,571,942.22. The trade was a -600.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 12.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its position in shares of Shattuck Labs by 9.2% in the fourth quarter. Northern Trust Corp now owns 353,616 shares of the company's stock valued at $428,000 after purchasing an additional 29,870 shares during the period. AQR Capital Management LLC raised its position in shares of Shattuck Labs by 265.4% in the first quarter. AQR Capital Management LLC now owns 43,169 shares of the company's stock valued at $41,000 after purchasing an additional 31,355 shares during the period. 683 Capital Management LLC raised its position in shares of Shattuck Labs by 4.3% in the second quarter. 683 Capital Management LLC now owns 1,095,000 shares of the company's stock valued at $867,000 after purchasing an additional 45,000 shares during the period. Nuveen LLC bought a new stake in shares of Shattuck Labs in the first quarter valued at approximately $50,000. Finally, Millennium Management LLC raised its position in shares of Shattuck Labs by 37.0% in the fourth quarter. Millennium Management LLC now owns 201,214 shares of the company's stock valued at $243,000 after purchasing an additional 54,322 shares during the period. 58.74% of the stock is currently owned by hedge funds and other 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.