Shattuck Labs (NASDAQ:STTK) Stock Price Down 5.3% – What’s Next?

Shattuck Labs, Inc. (NASDAQ:STTK) was down 5.3% on Monday. The stock traded as low as $6.33 and last traded at $6.3760. Approximately 599,094 shares changed hands during trading, a decline of 37% from the average daily volume of 954,866 shares. The stock had previously closed at $6.73.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STTK. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shattuck Labs in a research note on Friday, September 11th. TD Cowen upgraded Shattuck Labs to a “strong-buy” rating in a research report on Monday, August 24th. HC Wainwright reduced their price objective on Shattuck Labs from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Needham & Company LLC lifted their target price on Shattuck Labs from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. began coverage on Shattuck Labs in a research note on Friday, July 24th. They set an “overweight” rating and a $10.00 target price for the company. Two 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $13.33.

Shattuck Labs Price Performance

The business’s 50-day simple moving average is $6.91 and its two-hundred day simple moving average is $6.54. The stock has a market cap of $653.85 million, a price-to-earnings ratio of -12.63 and a beta of 1.09.

Shattuck Labs (NASDAQ:STTK) last announced 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). Equities research analysts forecast that Shattuck Labs, Inc. will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On Shattuck Labs

Large investors have recently bought and sold shares of the company. Squarepoint Ops LLC boosted its position in Shattuck Labs by 129.6% during the 2nd quarter. Squarepoint Ops LLC now owns 71,547 shares of the company’s stock worth $497,000 after buying an additional 40,385 shares during the period. Frazier Life Sciences Management L.P. acquired a new position in Shattuck Labs in the 2nd quarter valued at approximately $26,025,000. Wellington Management Group LLP bought a new position in shares of Shattuck Labs during the second quarter valued at $12,269,000. Bank of America Corp DE bought a new position in shares of Shattuck Labs during the second quarter valued at $319,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Shattuck Labs during the second quarter worth $312,000. 58.74% of the stock is currently owned by institutional investors.

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.