Shattuck Labs (NASDAQ:STTK) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Shattuck Labs from “hold” to “sell.” Analyst views remain mixed: MarketBeat’s consensus is “Buy,” with a $13.70 average price target.
• Shattuck Labs reported a quarterly loss of $0.14 per share, missing analysts’ estimate of a $0.10 loss.
• The stock opened at $4.62 and traded below its 50- and 200-day moving averages of about $6.00; it has ranged from $1.72 to $8.33 over the past year.

Shattuck Labs (NASDAQ:STTK - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other analysts also recently issued reports about the stock. 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 target for the company. UBS Group began coverage on shares of Shattuck Labs in a report on Sunday, October 11th. They issued a "buy" rating and a $17.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Shattuck Labs in a research note on Friday, September 11th. Raymond James Financial reissued a "strong-buy" rating on shares of Shattuck Labs in a research report on Thursday. Finally, Needham & Company LLC boosted 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. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Shattuck Labs presently has an average rating of "Buy" and a consensus target price of $13.70.

Shattuck Labs Stock Up 2.9%

STTK stock opened at $4.62 on Friday. The company has a market capitalization of $463.66 million, a P/E ratio of -9.06 and a beta of 1.21. The company has a 50-day simple moving average of $6.00 and a 200 day simple moving average of $6.02. Shattuck Labs has a fifty-two week low of $1.72 and a fifty-two week high of $8.33.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.04). Equities analysts anticipate that Shattuck Labs will post -0.45 EPS for the current year.

Institutional Trading of Shattuck Labs

Several hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new position in Shattuck Labs in the second quarter worth approximately $41,000. ProShare Advisors LLC acquired a new position in shares of Shattuck Labs in the 3rd quarter valued at approximately $70,000. State of Wyoming acquired a new position in Shattuck Labs in the 2nd quarter worth approximately $151,000. China Universal Asset Management Co. Ltd. increased its position in shares of Shattuck Labs by 74.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 25,600 shares of the company's stock valued at $167,000 after purchasing an additional 10,959 shares during the period. Finally, Profund Advisors LLC acquired a new position in shares of Shattuck Labs in the third quarter valued at approximately $195,000. 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 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.

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