Shattuck Labs shares are trading lower after Needham downgraded the stock from Buy to Hold. Also, Citigroup downgraded the stock form Buy to Neutral and lowered its price target from $8 to $2.
Portfolio Pulse from Benzinga Newsdesk
Shattuck Labs shares are experiencing a decline following downgrades from Needham and Citigroup. Needham changed its rating from Buy to Hold, while Citigroup downgraded from Buy to Neutral and reduced the price target from $8 to $2.
October 02, 2024 | 2:37 pm
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NEGATIVE IMPACT
Shattuck Labs (STTK) shares are under pressure due to downgrades from Needham and Citigroup. Citigroup also significantly reduced its price target from $8 to $2, indicating a bearish outlook.
The downgrades from two major financial institutions, Needham and Citigroup, suggest a lack of confidence in Shattuck Labs' near-term performance. Citigroup's drastic reduction in the price target from $8 to $2 further emphasizes a negative outlook, likely leading to a decrease in investor sentiment and a short-term decline in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100