Shattuck Labs (NASDAQ:STTK) Upgraded at UBS Group

Shattuck Labs (NASDAQ:STTK) was upgraded by equities researchers at UBS Group to a “strong-buy” rating in a report released on Sunday, Zacks reports.

Several other brokerages have also recently weighed in on STTK. Raymond James Financial started coverage on Shattuck Labs in a research note on Monday, August 24th. They issued a “strong-buy” rating and a $18.00 price target on the stock. HC Wainwright reduced their price objective on shares of Shattuck Labs from $18.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Leerink Partners started coverage on Shattuck Labs in a research note on Monday, July 20th. They issued an “outperform” rating and a $16.00 price target for the company. Wall Street Zen downgraded shares of Shattuck Labs from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, TD Cowen upgraded Shattuck Labs to a “strong-buy” rating in a research report on Monday, August 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Shattuck Labs has a consensus rating of “Buy” and a consensus price target of $13.70.

Shattuck Labs Trading Down 9.9%

NASDAQ STTK opened at $5.49 on Friday. The stock has a 50-day moving average of $6.73 and a 200-day moving average of $6.53. 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 $550.98 million, a PE ratio of -10.76 and a beta of 1.09.

Shattuck Labs (NASDAQ:STTK) last issued its earnings results on Tuesday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.12). As a group, equities research analysts forecast that Shattuck Labs will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shattuck Labs

A number of large investors have recently bought and sold shares of the business. Legal & General Group Plc acquired a new stake in shares of Shattuck Labs during the second quarter worth $41,000. State of Wyoming acquired a new position in shares of Shattuck Labs in the second quarter valued at about $151,000. OMERS ADMINISTRATION Corp lifted its holdings in shares of Shattuck Labs by 25.7% during the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock worth $214,000 after purchasing an additional 6,800 shares during the period. Hsbc Holdings PLC purchased a new position in Shattuck Labs during the 1st quarter worth approximately $269,000. Finally, Bank of America Corp DE acquired a new stake in shares of Shattuck Labs in the second quarter worth $319,000. 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.