Shattuck Labs (NASDAQ:STTK) Stock Price Down 5.3% - What's Next?

Key Points

• Shattuck Labs shares fell 5.3% to about $6.38 in Monday trading, with volume down 37% from its average session level.
• Analyst sentiment remains broadly positive: the stock has a consensus “Buy” rating and an average price target of $13.33, although individual ratings range from Strong Buy to Sell.
• Institutional investors own 58.74% of the company, with major funds including Frazier Life Sciences Management and Wellington Management initiating sizable positions during the second quarter.

Shares of Shattuck Labs, Inc. (NASDAQ:STTK - Get Free Report) fell 5.3% during trading on Monday. The stock traded as low as $6.33 and last traded at $6.3760. 599,094 shares changed hands during trading, a decline of 37% from the average session volume of 954,866 shares. The stock had previously closed at $6.73.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. TD Cowen raised shares of Shattuck Labs to a "strong-buy" rating in a report on Monday, August 24th. Needham & Company LLC boosted their price objective on Shattuck Labs from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Friday. Wall Street Zen downgraded Shattuck Labs from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. HC Wainwright dropped their price target on Shattuck Labs from $18.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Shattuck Labs in a report on Friday, September 11th. Two 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. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $13.33.

Shattuck Labs Price Performance

The company has a market capitalization of $653.85 million, a price-to-earnings ratio of -12.63 and a beta of 1.09. The business's 50-day moving average price is $6.91 and its two-hundred day moving average price is $6.54.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC lifted its position in Shattuck Labs by 129.6% during the second quarter. Squarepoint Ops LLC now owns 71,547 shares of the company's stock worth $497,000 after purchasing an additional 40,385 shares during the period. Frazier Life Sciences Management L.P. acquired a new position in shares of Shattuck Labs in the 2nd quarter valued at approximately $26,025,000. Wellington Management Group LLP acquired a new position in shares of Shattuck Labs in the 2nd quarter valued at approximately $12,269,000. Bank of America Corp DE bought a new stake in shares of Shattuck Labs during the 2nd quarter worth approximately $319,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Shattuck Labs during the 2nd quarter worth 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 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.

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