Why Shattuck Labs Stock Flew Nearly 5% Higher on Friday

Shattuck Labs stock rose nearly 5% on Friday following JPMorgan Chase analyst Brian Cheng's initiation of coverage with an 'overweight' rating and $10 price target (35% upside). The bullish call was driven by positive clinical trial data for the company's lead drug candidate SL-325, a first-in-class antagonist antibody for inflammatory bowel disease, which showed a cleaner safety profile and stronger target engagement than competitors. The drug is scheduled to enter Phase 2 trials in Q3.