Shattuck Labs Inc Down 16.88% To $1.97 After Earnings Miss

Shattuck Labs Inc (STTK) said before open Thursday that it lost $0.65 per share in quarter three 2023.

On the revenue line, the company reported $686 thousand, beating estimates by $506 thousand.

In the same quarter a year ago, the company lost $0.58 per share on revenue of $212 thousand.

The stock is down 16.88% to $1.97 after the report.

Shattuck Labs Inc's revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Shattuck Labs Inc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 77. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

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. Its 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.