Shares of Shattuck Labs, Inc. (NASDAQ:STTK – Get Free Report) shot up 11.9% during mid-day trading on Wednesday. The company traded as high as $6.89 and last traded at $7.3150. Approximately 221,063 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 928,544 shares. The stock had previously closed at $6.54.
Analyst Ratings Changes
STTK has been the subject of several analyst reports. Leerink Partners started coverage on shares of Shattuck Labs in a report on Monday, July 20th. They set an “outperform” rating and a $16.00 price target for the company. TD Cowen raised shares of Shattuck Labs to a “strong-buy” rating in a report on Monday, August 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Shattuck Labs in a research report on Friday, September 11th. JPMorgan Chase & Co. began coverage on shares of Shattuck Labs in a research note on Friday, July 24th. They set an “overweight” rating and a $10.00 target price for the company. Finally, Jefferies Financial Group upgraded shares of Shattuck Labs to an “outperform” rating and set a $7.00 target price for the company in a research report on Friday, June 5th. Two research 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, the company currently has an average rating of “Buy” and an average target price of $12.78.
Shattuck Labs Stock Up 9.1%
Shattuck Labs (NASDAQ:STTK – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). On average, research analysts expect that Shattuck Labs, Inc. will post -0.45 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in STTK. BlackRock Inc. bought a new position in Shattuck Labs during the 2nd quarter valued at $27,315,000. Frazier Life Sciences Management L.P. bought a new stake in shares of Shattuck Labs in the 2nd quarter worth $26,025,000. NEXTBio Capital Management LP bought a new stake in shares of Shattuck Labs in the 4th quarter worth $11,497,000. Wellington Management Group LLP acquired a new stake in shares of Shattuck Labs in the second quarter valued at $12,269,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Shattuck Labs by 77.4% in the first quarter. Renaissance Technologies LLC now owns 604,500 shares of the company’s stock valued at $3,887,000 after buying an additional 263,800 shares during the period. 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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