Needham analyst Gil Blum has maintained their bullish stance on STTK stock, giving a Buy rating today.
Gil Blum’s Buy rating on Shattuck Labs is influenced by several elements. The initial dose escalation monotherapy/combo results of Shattuck’s SL-172154 (‘154) on 37 patients have yielded promising early clinical activity in a subset of patients, particularly in previously untreated TP53 mutant-MDS patients. Moreover, the ‘154 showed stimulation of several types of cytokines up to 3 mg/kg, and was well-tolerated as a monotherapy and when combined with azacitidine (AZA).
While ‘154 did not deliver responses in the r/r AML cohort, Gil Blum was not surprised due to the historical difficulty of developing effective therapies for this condition. Despite this, reductions in bone marrow blasts were observed in a majority of patients in the combo group. Notably, the safety profile of ‘154 will be critical to monitor, as hematological toxicity has been troublesome for other CD47 agents. Ultimately, more data will be necessary to identify ‘154’s potential in TP53 HR-MDS, but the initial findings have supported a Buy rating.
According to TipRanks, Blum is an analyst with an average return of -21.2% and a 26.94% success rate. Blum covers the Healthcare sector, focusing on stocks such as Geron, Shattuck Labs, and Sarepta Therapeutics.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $28.00 price target.
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Shattuck Labs (STTK) Company Description:
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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