Shattuck Labs (NASDAQ:STTK) Given New $19.00 Price Target at Needham & Company LLC

Shattuck Labs (NASDAQ:STTK) had its price target boosted by research analysts at Needham & Company LLC from $17.00 to $19.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 177.78% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Citigroup upgraded shares of Shattuck Labs from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a research report on Friday, June 5th. Leerink Partners assumed coverage on shares of Shattuck Labs in a research note on Monday, July 20th. They issued an “outperform” rating and a $16.00 price objective on the stock. Wall Street Zen downgraded Shattuck Labs from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. JPMorgan Chase & Co. started coverage on Shattuck Labs in a research report on Friday, July 24th. They set an “overweight” rating and a $10.00 target price for the company. Finally, Jefferies Financial Group raised Shattuck Labs to an “outperform” rating and set a $7.00 target price on the stock in a report on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $13.00.

Shattuck Labs Trading Up 0.3%

NASDAQ:STTK opened at $6.84 on Friday. The stock has a market cap of $686.46 million, a P/E ratio of -13.41 and a beta of 1.09. The stock’s 50-day moving average is $6.92 and its 200-day moving average is $6.53. Shattuck Labs has a 1-year low of $1.70 and a 1-year high of $8.33.

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

Institutional Investors Weigh In On Shattuck Labs

Large investors have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in Shattuck Labs in the second quarter worth approximately $41,000. OMERS ADMINISTRATION Corp lifted its stake in Shattuck Labs by 25.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 33,300 shares of the company’s stock valued at $214,000 after buying an additional 6,800 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Shattuck Labs by 5.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 142,300 shares of the company’s stock worth $915,000 after buying an additional 7,244 shares in the last quarter. State of Wyoming bought a new position in shares of Shattuck Labs during the 2nd quarter worth approximately $151,000. Finally, Squarepoint Ops LLC grew its position in shares of Shattuck Labs by 129.6% during the 2nd quarter. Squarepoint Ops LLC now owns 71,547 shares of the company’s stock worth $497,000 after buying an additional 40,385 shares during the period. 58.74% of the stock is currently owned by institutional investors and hedge funds.

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 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.