Shattuck Labs (NASDAQ:STTK) Raised to “Strong-Buy” at UBS Group

Shattuck Labs (NASDAQ:STTK) was upgraded by investment analysts at UBS Group to a “strong-buy” rating in a research note issued on Sunday, Zacks reports.

Several other research firms have also weighed in on STTK. Raymond James Financial began coverage on Shattuck Labs in a research note on Monday, August 24th. They issued a “strong-buy” rating and a $18.00 target price on the stock. Wall Street Zen lowered Shattuck Labs from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. HC Wainwright lowered their price target on Shattuck Labs from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shattuck Labs in a research report on Friday, September 11th. Finally, Wedbush lifted their price objective on shares of Shattuck Labs from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, October 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $13.70.

Shattuck Labs Stock Down 9.9%

STTK stock opened at $5.49 on Friday. The business’s fifty day moving average is $6.73 and its 200-day moving average is $6.53. The company has a market cap of $550.98 million, a P/E ratio of -10.76 and a beta of 1.09. Shattuck Labs has a twelve month low of $1.70 and a twelve month high of $8.33.

Shattuck Labs (NASDAQ:STTK) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). Research analysts anticipate that Shattuck Labs will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shattuck Labs

A number of large investors have recently added to or reduced their stakes in STTK. BlackRock Inc. bought a new stake in shares of Shattuck Labs in the second quarter valued at about $27,315,000. Frazier Life Sciences Management L.P. bought a new position in shares of Shattuck Labs during the second quarter worth about $26,025,000. Wellington Management Group LLP bought a new position in shares of Shattuck Labs during the second quarter worth about $12,269,000. Renaissance Technologies LLC grew its holdings in shares of Shattuck Labs by 77.4% during the first quarter. Renaissance Technologies LLC now owns 604,500 shares of the company’s stock worth $3,887,000 after buying an additional 263,800 shares in the last quarter. Finally, S&G Foundation bought a new position in shares of Shattuck Labs during the second quarter worth about $3,024,000. Institutional investors own 58.74% of the company’s stock.

Shattuck Labs Company Profile

Shattuck Labs, Inc is a clinical-stage biotechnology company focused on developing novel immunotherapies for cancer and other serious diseases. The company’s research is based on its Agonist Redirected Checkpoint (ARC) platform, which is designed to create biologic medicines that combine immune checkpoint blockade with immune-cell activation in a single therapeutic construct.

Shattuck’s pipeline has included investigational ARC fusion proteins intended to alter the tumor microenvironment and stimulate immune responses against cancer cells.