Shattuck Labs (NASDAQ:STTK) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Shattuck Labs (NASDAQ:STTK) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other brokerages have also commented on STTK. Weiss Ratings reissued a “sell (d-)” rating on shares of Shattuck Labs in a research note on Friday, September 11th. TD Cowen raised Shattuck Labs to a “strong-buy” rating in a research note on Monday, August 24th. HC Wainwright decreased their price objective on Shattuck Labs from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Shattuck Labs in a report on Thursday. Finally, UBS Group started coverage on Shattuck Labs in a research report on Sunday, October 11th. They set a “buy” rating and a $17.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $13.70.

Shattuck Labs Stock Performance

Shares of NASDAQ STTK opened at $4.99 on Friday. The company has a market cap of $500.80 million, a P/E ratio of -9.78 and a beta of 1.21. Shattuck Labs has a 52-week low of $1.72 and a 52-week high of $8.33. The firm’s fifty day moving average is $5.96 and its two-hundred day moving average is $6.03.

Shattuck Labs (NASDAQ:STTK) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). As a group, analysts forecast that Shattuck Labs will post -0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Shattuck Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Shattuck Labs during the 2nd quarter valued at approximately $27,315,000. Frazier Life Sciences Management L.P. purchased a new stake in Shattuck Labs during the 2nd quarter valued at $26,025,000. Pinnacle Associates Ltd. raised its holdings in Shattuck Labs by 12.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,099,779 shares of the company’s stock valued at $14,320,000 after buying an additional 228,337 shares during the period. Wellington Management Group LLP bought a new stake in Shattuck Labs in the second quarter worth $12,269,000. Finally, Renaissance Technologies LLC lifted its position in Shattuck Labs by 77.4% in 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 during the last quarter. 58.74% of the stock is currently owned by hedge funds and other institutional investors.

About Shattuck Labs

Shattuck Labs, Inc is a clinical-stage biotechnology company focused on developing novel immunotherapies for the treatment of cancer. The company’s research is based on its Agonist Redirected Checkpoint (ARC) platform, which is designed to combine immune-cell activation with checkpoint inhibition in a single therapeutic molecule.

Shattuck’s pipeline has included bifunctional fusion proteins such as SL-172154, an investigational therapy designed to engage CD40 ligand and block PD-L1, and SL-173154, which is designed to target CD27 ligand and PD-L1.