Shattuck Labs (NASDAQ:STTK) Stock Lifted to “Strong-Buy” by UBS Group

UBS Group upgraded shares of Shattuck Labs (NASDAQ:STTK) to a strong-buy rating in a research note issued to investors on Sunday morning,Zacks reports.

STTK has been the subject of several other reports. Raymond James Financial assumed coverage on Shattuck Labs in a report on Monday, August 24th. They issued a “strong-buy” rating and a $18.00 price target for the company. JPMorgan Chase & Co. initiated coverage on Shattuck Labs in a research report on Friday, July 24th. They issued an “overweight” rating and a $10.00 price objective for the company. Wedbush increased their price objective on Shattuck Labs from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, October 2nd. TD Cowen raised Shattuck Labs to a “strong-buy” rating in a report on Monday, August 24th. Finally, Wall Street Zen lowered shares of Shattuck Labs from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $13.70.

Shattuck Labs Stock Down 9.9%

Shares of Shattuck Labs stock opened at $5.49 on Friday. The firm has a market cap of $550.98 million, a price-to-earnings ratio of -10.76 and a beta of 1.09. Shattuck Labs has a 52-week low of $1.70 and a 52-week high of $8.33. The company’s 50-day simple moving average is $6.73 and its 200-day simple moving average is $6.53.

Shattuck Labs (NASDAQ:STTK) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). Equities research analysts anticipate that Shattuck Labs will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Shattuck Labs

Several institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC raised its holdings in Shattuck Labs by 129.6% during the second quarter. Squarepoint Ops LLC now owns 71,547 shares of the company’s stock worth $497,000 after purchasing an additional 40,385 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new position in shares of Shattuck Labs during the 2nd quarter worth $26,025,000. Wellington Management Group LLP acquired a new position in shares of Shattuck Labs during the 2nd quarter worth $12,269,000. Bank of America Corp DE purchased a new position in Shattuck Labs during the 2nd quarter valued at about $319,000. Finally, Hsbc Holdings PLC purchased a new position in Shattuck Labs during the 2nd quarter valued at about $312,000. Hedge funds and other 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.