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.

Shattuck Labs (NASDAQ:STTK - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

Several other equities research analysts have also issued reports on STTK. Needham & Company LLC reissued a "hold" rating on shares of Shattuck Labs in a report on Thursday, August 14th. Leerink Partners lowered their price target on shares of Shattuck Labs from $4.00 to $2.00 and set an "outperform" rating on the stock in a report on Thursday, August 14th. Finally, Wedbush began coverage on shares of Shattuck Labs in a report on Monday, September 8th. They issued 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 given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $4.00.

Shattuck Labs Trading Down 3.0%

Shares of STTK stock opened at $1.92 on Friday. Shattuck Labs has a 1 year low of $0.69 and a 1 year high of $3.95. The firm's fifty day simple moving average is $1.00 and its 200 day simple moving average is $1.01. The firm has a market capitalization of $91.97 million, a P/E ratio of -1.59 and a beta of 1.64.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.01. Equities research analysts anticipate that Shattuck Labs will post -1.48 EPS for the current fiscal year.

Insider Activity

In related news, Director Mona Ashiya purchased 6,306,127 shares of Shattuck Labs stock in a transaction that occurred on Monday, August 25th. The shares were acquired at an average price of $0.87 per share, for a total transaction of $5,486,330.49. Following the transaction, the director directly owned 5,255,106 shares in the company, valued at approximately $4,571,942.22. This represents a -600.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Orbimed Advisors Llc purchased 6,306,127 shares of Shattuck Labs stock in a transaction that occurred on Monday, August 25th. The shares were bought at an average price of $0.87 per share, for a total transaction of $5,486,330.49. Following the transaction, the director owned 5,255,106 shares in the company, valued at $4,571,942.22. This represents 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 corporate insiders.

Institutional Trading of Shattuck Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG raised its holdings in Shattuck Labs by 476.4% during the 4th quarter. Deutsche Bank AG now owns 116,868 shares of the company's stock worth $141,000 after purchasing an additional 96,594 shares during the last quarter. Millennium Management LLC raised its holdings in Shattuck Labs by 37.0% during the 4th quarter. Millennium Management LLC now owns 201,214 shares of the company's stock worth $243,000 after purchasing an additional 54,322 shares during the last quarter. Northern Trust Corp raised its holdings in Shattuck Labs by 9.2% during the 4th quarter. Northern Trust Corp now owns 353,616 shares of the company's stock worth $428,000 after purchasing an additional 29,870 shares during the last quarter. Bank of America Corp DE raised its holdings in Shattuck Labs by 135.0% during the 4th quarter. Bank of America Corp DE now owns 187,089 shares of the company's stock worth $226,000 after purchasing an additional 107,491 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Shattuck Labs during the 1st quarter worth about $50,000. 58.74% of the stock is 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.

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