Needham Believes Shattuck Labs (STTK) Still Has Room to Grow


In a report released today, Chad Messer from Needham initiated coverage with a Buy rating on Shattuck Labs (STTK) and a price target of $34.00. The company’s shares closed last Monday at $26.87, close to its 52-week high of $27.25.

According to TipRanks.com, Messer is a 4-star analyst with an average return of 8.4% and a 43.6% success rate. Messer covers the Healthcare sector, focusing on stocks such as Phasebio Pharmaceuticals, Aeglea Biotherapeutics, and Ionis Pharmaceuticals.

Currently, the analyst consensus on Shattuck Labs is a Moderate Buy with an average price target of $35.00, which is a 35.0% upside from current levels. In a report released today, Citigroup also initiated coverage with a Buy rating on the stock with a $36.00 price target.

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Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of STTK in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Shattuck Labs Inc is a clinical-stage biotechnology company pioneering the development of dual-sided fusion proteins as an entirely new class of biologic medicine. The company’s product candidate, SL-172154, has been rationally designed to simultaneously inhibit the CD47/SIRPa checkpoint interaction to restore an anti-tumor immune response and to activate the CD40 costimulatory receptor to bolster an immune response. Its product candidate, SL-279252, which is being developed in collaboration with Takeda Pharmaceuticals, or Takeda, has been rationally designed to simultaneously inhibit the PD-1/PD-L1 interaction and activate the OX40 receptor.

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