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

Wall Street Zen downgraded 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.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. began coverage on shares of Shattuck Labs in a research note on Friday, July 24th. They issued an “overweight” rating and a $10.00 price objective on the stock. Leerink Partners assumed coverage on shares of Shattuck Labs in a research report on Monday, July 20th. They set an “outperform” rating and a $16.00 target price for the company. Needham & Company LLC increased their price target on Shattuck Labs from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. HC Wainwright reduced their price target on Shattuck Labs from $18.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Shattuck Labs in a research note on Friday, September 11th. Three 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 stock. According to data from MarketBeat.com, Shattuck Labs has an average rating of “Buy” and a consensus price target of $13.70.

Shattuck Labs Stock Performance

Shares of STTK stock opened at $4.62 on Friday. Shattuck Labs has a 52 week low of $1.72 and a 52 week high of $8.33. The stock’s fifty day moving average is $6.00 and its 200-day moving average is $6.02. The stock has a market capitalization of $463.66 million, a PE ratio of -9.06 and a beta of 1.21.

Shattuck Labs (NASDAQ:STTK) last released its earnings results on Thursday, November 5th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). As a group, analysts forecast that Shattuck Labs will post -0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Shattuck Labs in the second quarter worth about $27,315,000. Frazier Life Sciences Management L.P. acquired a new stake in shares of Shattuck Labs during the second quarter worth about $26,025,000. Wellington Management Group LLP bought a new position in shares of Shattuck Labs during the 2nd quarter valued at about $12,269,000. S&G Foundation bought a new position in shares of Shattuck Labs during the 2nd quarter valued at about $3,024,000. Finally, Deutsche Bank AG bought a new position in shares of Shattuck Labs during the 2nd quarter valued at about $2,474,000. 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 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.