Shattuck Labs (NASDAQ:STTK) Upgraded at UBS Group

Shattuck Labs (NASDAQ:STTK) was upgraded by UBS Group to a “strong-buy” rating in a research note issued on Sunday, Zacks reports.

A number of other analysts also recently issued reports on STTK. TD Cowen raised Shattuck Labs to a “strong-buy” rating in a research report on Monday, August 24th. Wall Street Zen cut Shattuck Labs from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. assumed coverage on shares of Shattuck Labs in a report on Friday, July 24th. They issued an “overweight” rating and a $10.00 price objective for the company. Wedbush boosted their price target on shares of Shattuck Labs from $11.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, October 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Shattuck Labs in a research note on Friday, September 11th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $13.70.

Shattuck Labs Trading Down 9.9%

Shares of STTK opened at $5.49 on Friday. The stock’s 50 day moving average is $6.73 and its two-hundred day moving average is $6.53. Shattuck Labs has a 12 month low of $1.70 and a 12 month high of $8.33. The firm has a market cap of $550.98 million, a P/E ratio of -10.76 and a beta of 1.09.

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

Hedge Funds Weigh In On Shattuck Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Shattuck Labs during the 2nd quarter valued at approximately $27,315,000. Frazier Life Sciences Management L.P. purchased a new position in Shattuck Labs during the second quarter worth about $26,025,000. Wellington Management Group LLP acquired a new stake in Shattuck Labs in the second quarter valued at about $12,269,000. Renaissance Technologies LLC boosted its holdings in Shattuck Labs by 77.4% in the 1st quarter. Renaissance Technologies LLC now owns 604,500 shares of the company’s stock valued at $3,887,000 after purchasing an additional 263,800 shares in the last quarter. Finally, S&G Foundation purchased a new position in shares of Shattuck Labs during the 2nd quarter worth approximately $3,024,000. Hedge funds and other institutional investors own 58.74% of the company’s stock.

About Shattuck Labs

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.