Shattuck Labs (NASDAQ:STTK) Price Target Raised to $19.00

Shattuck Labs (NASDAQ:STTK) had its price objective increased by Needham & Company LLC from $17.00 to $19.00 in a research note published on Friday, Marketbeat Ratings reports. Needham & Company LLC currently has a buy rating on the stock.

STTK has been the topic of several other reports. HC Wainwright dropped their target price on shares of Shattuck Labs from $18.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. TD Cowen raised shares of Shattuck Labs to a “strong-buy” rating in a research report on Monday, August 24th. JPMorgan Chase & Co. began coverage on Shattuck Labs in a report on Friday, July 24th. They set an “overweight” rating and a $10.00 target price for the company. Citigroup upgraded Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Friday, June 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Shattuck Labs in a report on Friday, September 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $13.33.

Shattuck Labs Stock Performance

STTK stock opened at $6.73 on Friday. Shattuck Labs has a 1-year low of $1.70 and a 1-year high of $8.33. The firm has a market cap of $675.42 million, a PE ratio of -13.20 and a beta of 1.09. The business’s 50-day moving average price is $6.91 and its two-hundred day moving average price is $6.54.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC boosted its holdings 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 buying an additional 40,385 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new position in Shattuck Labs during the second quarter worth $26,025,000. Wellington Management Group LLP bought a new stake in Shattuck Labs during the second quarter worth $12,269,000. Bank of America Corp DE bought a new stake in Shattuck Labs during the second quarter worth $319,000. Finally, Hsbc Holdings PLC acquired a new stake in Shattuck Labs in the second quarter valued at $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.