Shattuck Labs (NASDAQ:STTK) Shares Up 11.9% - Time to Buy?

Key Points

• Shattuck Labs shares rose 11.9% to approximately $7.32 in mid-day trading, although volume was 76% below the average daily level.
• Analyst sentiment is broadly positive: the stock has an average “Buy” rating and a consensus price target of $12.78, representing potential upside from its trading price.
• Institutional investors own 58.74% of the company, while Shattuck Labs continues developing clinical-stage cancer immunotherapies through its Agonist Redirected Checkpoint platform.

Shares of Shattuck Labs, Inc. (NASDAQ:STTK - Get Free Report) rose 11.9% during mid-day trading on Wednesday. The stock traded as high as $6.89 and last traded at $7.3150. Approximately 221,063 shares changed hands during trading, a decline of 76% from the average daily volume of 928,544 shares. The stock had previously closed at $6.54.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on STTK. Raymond James Financial started coverage on Shattuck Labs in a research note on Monday, August 24th. They set a "strong-buy" rating and a $18.00 target price for the company. TD Cowen raised shares of Shattuck Labs to a "strong-buy" rating in a report on Monday, August 24th. Needham & Company LLC increased their price objective on shares of Shattuck Labs from $14.00 to $17.00 and gave the company a "buy" rating in a research note on Monday, June 8th. JPMorgan Chase & Co. started coverage on shares of Shattuck Labs in a report on Friday, July 24th. They set an "overweight" rating and a $10.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Shattuck Labs from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $12.78.

Shattuck Labs Trading Up 9.1%

The firm has a market capitalization of $716.09 million, a price-to-earnings ratio of -14.03 and a beta of 1.09. The company has a 50-day moving average of $6.93 and a 200-day moving average of $6.52.

Shattuck Labs (NASDAQ:STTK - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) EPS for the quarter, hitting analysts' consensus estimates of ($0.12). On average, research analysts forecast that Shattuck Labs, Inc. will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Shattuck Labs

Institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC boosted its stake in Shattuck Labs by 129.6% in the second quarter. Squarepoint Ops LLC now owns 71,547 shares of the company's stock valued at $497,000 after acquiring an additional 40,385 shares during the period. Frazier Life Sciences Management L.P. acquired a new stake in shares of Shattuck Labs during the 2nd quarter worth approximately $26,025,000. Wellington Management Group LLP bought a new stake in shares of Shattuck Labs in the 2nd quarter worth approximately $12,269,000. Bank of America Corp DE bought a new stake in shares of Shattuck Labs in the 2nd quarter worth approximately $319,000. Finally, Hsbc Holdings PLC acquired a new position in Shattuck Labs during the 2nd quarter valued at approximately $312,000. Institutional investors and hedge funds 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 cancer and other serious diseases. The company's research is based on its Agonist Redirected Checkpoint (ARC) platform, which is designed to create bifunctional fusion proteins that combine immune-cell activation with the targeted blocking of immune-suppressive pathways.

Shattuck's lead investigational programs are intended to stimulate antitumor immune responses within the tumor microenvironment.

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