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

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

Analysts Set New Price Targets

STTK has been the topic of a number of research analyst reports. Needham & Company LLC raised their price target on Shattuck Labs from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Leerink Partners started coverage on Shattuck Labs in a research report on Monday, July 20th. They issued an “outperform” rating and a $16.00 price objective for the company. TD Cowen upgraded Shattuck Labs to a “strong-buy” rating in a research report on Monday, August 24th. Wedbush increased their target price on Shattuck Labs from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, October 2nd. Finally, Wall Street Zen downgraded shares of Shattuck Labs from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $13.70.

Shattuck Labs Stock Down 7.6%

The firm has a market capitalization of $564.52 million, a price-to-earnings ratio of -11.07 and a beta of 1.09. The business’s fifty day moving average is $6.78 and its 200 day moving average is $6.53.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Shattuck Labs in the second quarter valued at approximately $27,315,000. Frazier Life Sciences Management L.P. bought a new stake in shares of Shattuck Labs in the second quarter worth $26,025,000. Wellington Management Group LLP acquired a new position in Shattuck Labs during the second quarter worth $12,269,000. S&G Foundation acquired a new position in Shattuck Labs during the second quarter worth $3,024,000. Finally, Deutsche Bank AG acquired a new position in Shattuck Labs during the second quarter worth $2,474,000. 58.74% of the stock is owned by institutional investors and hedge funds.

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.