Silverback Therapeutics, Inc. (NASDAQ:SBTX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $16.28, but opened at $15.55. Silverback Therapeutics shares last traded at $15.51, with a volume of 121 shares.
SBTX has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Silverback Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 18th. SVB Leerink lifted their price target on shares of Silverback Therapeutics from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, August 16th. Finally, Jonestrading reiterated a “buy” rating and issued a $50.00 price target on shares of Silverback Therapeutics in a research report on Tuesday, August 24th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Silverback Therapeutics presently has a consensus rating of “Buy” and an average price target of $50.20.
The firm has a fifty day moving average of $27.33 and a 200-day moving average of $33.37. The firm has a market cap of $561.28 million and a P/E ratio of -1.44.
Several institutional investors have recently added to or reduced their stakes in SBTX. Nantahala Capital Management LLC raised its position in shares of Silverback Therapeutics by 27.6% during the 2nd quarter. Nantahala Capital Management LLC now owns 1,266,266 shares of the company’s stock valued at $39,115,000 after buying an additional 274,024 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Silverback Therapeutics by 212.5% in the first quarter. BlackRock Inc. now owns 1,219,268 shares of the company’s stock worth $53,195,000 after buying an additional 829,107 shares in the last quarter. Wasatch Advisors Inc. increased its position in Silverback Therapeutics by 142.5% during the second quarter. Wasatch Advisors Inc. now owns 645,780 shares of the company’s stock valued at $19,948,000 after acquiring an additional 379,467 shares during the last quarter. Woodline Partners LP grew its holdings in Silverback Therapeutics by 82.7% during the 2nd quarter. Woodline Partners LP now owns 377,631 shares of the company’s stock worth $11,665,000 after acquiring an additional 170,948 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Silverback Therapeutics during the first quarter valued at about $12,548,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
Silverback Therapeutics Company Profile (NASDAQ:SBTX)
Silverback Therapeutics, Inc, a clinical-stage biopharmaceutical company, develops tissue targeted therapeutics for the treatment of cancer, chronic viral infections, and other serious diseases. Its lead product candidate is SBT6050, which is in a Phase I/Ib clinical trial, a TLR8 agonist linker-payload conjugated to a HER2-directed monoclonal antibody that targets tumors, such as breast, gastric, and non-small cell lung cancers.
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