Citigroup Begins Coverage on Shattuck Labs (NASDAQ:STTK)

Citigroup started coverage on shares of Shattuck Labs (NASDAQ:STTKGet Rating) in a research report issued on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $13.00 price target on the stock. Citigroup’s price objective points to a potential upside of 354.55% from the stock’s previous close.

A number of other brokerages have also weighed in on STTK. Needham & Company LLC dropped their price target on Shattuck Labs from $46.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, March 16th. HC Wainwright started coverage on Shattuck Labs in a research report on Monday, May 2nd. They issued a “buy” rating and a $28.00 target price on the stock. Finally, Zacks Investment Research lowered Shattuck Labs from a “hold” rating to a “sell” rating in a research report on Saturday, May 14th.

Shares of STTK stock opened at $2.86 on Wednesday. Shattuck Labs has a fifty-two week low of $2.59 and a fifty-two week high of $31.23. The firm has a market capitalization of $121.21 million, a price-to-earnings ratio of -2.09 and a beta of 2.44. The stock’s 50-day simple moving average is $3.66 and its 200-day simple moving average is $5.89.

Shattuck Labs (NASDAQ:STTKGet Rating) last issued its quarterly earnings results on Thursday, May 12th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). As a group, equities analysts expect that Shattuck Labs will post -2.45 earnings per share for the current year.

In other news, Director George Golumbeski bought 26,049 shares of the company’s stock in a transaction that occurred on Thursday, April 21st. The shares were purchased at an average price of $3.69 per share, for a total transaction of $96,120.81. Following the completion of the transaction, the director now directly owns 26,049 shares in the company, valued at $96,120.81. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.70% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC acquired a new position in Shattuck Labs in the fourth quarter valued at approximately $35,000. Acadian Asset Management LLC acquired a new position in shares of Shattuck Labs during the 1st quarter worth approximately $37,000. Denali Advisors LLC raised its stake in shares of Shattuck Labs by 63.9% during the 1st quarter. Denali Advisors LLC now owns 10,000 shares of the company’s stock worth $43,000 after buying an additional 3,900 shares during the period. Royal Bank of Canada raised its stake in shares of Shattuck Labs by 64.1% during the 2nd quarter. Royal Bank of Canada now owns 1,821 shares of the company’s stock worth $53,000 after buying an additional 711 shares during the period. Finally, Citigroup Inc. raised its stake in shares of Shattuck Labs by 155.9% during the 4th quarter. Citigroup Inc. now owns 8,323 shares of the company’s stock worth $71,000 after buying an additional 5,070 shares during the period. 62.16% of the stock is owned by institutional investors.

Shattuck Labs Company Profile (Get Rating)

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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