Shattuck Labs (NASDAQ:STTK) Stock Price Down 6.9% – Time to Sell?

Shattuck Labs, Inc. (NASDAQ:STTK)’s stock price fell 6.9% during trading on Tuesday. The stock traded as low as $5.70 and last traded at $5.67. 1,120,788 shares changed hands during trading, an increase of 15% from the average daily volume of 971,356 shares. The stock had previously closed at $6.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Leerink Partners assumed coverage on shares of Shattuck Labs in a research note on Monday, July 20th. They set an “outperform” rating and a $16.00 price objective for the company. JPMorgan Chase & Co. began coverage on Shattuck Labs in a report on Friday, July 24th. They issued an “overweight” rating and a $10.00 price objective for the company. HC Wainwright lowered their target price on Shattuck Labs from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Needham & Company LLC upped their target price on Shattuck Labs from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Finally, UBS Group assumed coverage on Shattuck Labs in a report on Sunday. They set a “buy” rating and a $17.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Shattuck Labs currently has an average rating of “Buy” and an average price target of $13.70.

Shattuck Labs Stock Performance

The company has a market cap of $564.52 million, a price-to-earnings ratio of -11.07 and a beta of 1.09. The firm has a fifty day moving average price of $6.78 and a 200 day moving average price of $6.53.

Shattuck Labs (NASDAQ:STTK) last released its earnings results on Tuesday, August 11th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). On average, analysts expect that Shattuck Labs, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Trading of Shattuck Labs

A number of large investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC grew its position in shares of Shattuck Labs by 129.6% in the 2nd quarter. Squarepoint Ops LLC now owns 71,547 shares of the company’s stock valued at $497,000 after acquiring an additional 40,385 shares during the period. Frazier Life Sciences Management L.P. acquired a new position in shares of Shattuck Labs during the 2nd quarter worth about $26,025,000. Wellington Management Group LLP bought a new stake in shares of Shattuck Labs in the 2nd quarter valued at about $12,269,000. Bank of America Corp DE bought a new stake in shares of Shattuck Labs in the 2nd quarter valued at about $319,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Shattuck Labs in the 2nd quarter valued at about $312,000. Institutional investors and hedge funds 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.