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Shattuck Labs, Inc. (STTK) Reports Q2 Loss, Tops Revenue Estimates
Shattuck LabsShattuck Labs(US:STTK) ZACKSยท2024-08-01 23:20

Group 1: Earnings Performance - Shattuck Labs reported a quarterly loss of $0.42 per share, slightly worse than the Zacks Consensus Estimate of a loss of $0.41, but an improvement from a loss of $0.50 per share a year ago, indicating a -2.44% earnings surprise [1] - The company posted revenues of $1.61 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 82.84%, compared to revenues of $0.2 million in the same quarter last year [2] - Over the last four quarters, Shattuck Labs has surpassed consensus EPS estimates two times and topped consensus revenue estimates four times [2] Group 2: Stock Performance and Outlook - Shattuck Labs shares have declined approximately 44.2% since the beginning of the year, contrasting with the S&P 500's gain of 15.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.43 on revenues of $1.1 million, and for the current fiscal year, it is -$1.56 on revenues of $4.3 million [7] - The estimate revisions trend for Shattuck Labs is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Group 3: Industry Context - The Medical - Biomedical and Genetics industry, to which Shattuck Labs belongs, is currently in the top 35% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% of industries [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]