Silverback Therapeutics, Inc. (NASDAQ:SBTX) Receives Consensus Rating of “Hold” from Analysts

Shares of Silverback Therapeutics, Inc. (NASDAQ:SBTXGet Rating) have been given an average recommendation of “Hold” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $4.88.

A number of equities research analysts recently issued reports on SBTX shares. HC Wainwright cut Silverback Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, April 1st. The Goldman Sachs Group cut Silverback Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, April 1st. Zacks Investment Research raised Silverback Therapeutics from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a report on Wednesday, April 6th. Stifel Nicolaus lowered Silverback Therapeutics from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $6.00 in a report on Friday, April 1st. Finally, Jonestrading lowered Silverback Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, April 1st.

A number of hedge funds have recently bought and sold shares of SBTX. Citigroup Inc. grew its holdings in shares of Silverback Therapeutics by 155.9% during the third quarter. Citigroup Inc. now owns 2,531 shares of the company’s stock worth $25,000 after purchasing an additional 1,542 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Silverback Therapeutics during the third quarter worth about $28,000. Eagle Bay Advisors LLC purchased a new position in shares of Silverback Therapeutics during the fourth quarter worth about $42,000. EMC Capital Management purchased a new position in shares of Silverback Therapeutics during the third quarter worth about $62,000. Finally, Metropolitan Life Insurance Co NY grew its holdings in shares of Silverback Therapeutics by 62.7% during the third quarter. Metropolitan Life Insurance Co NY now owns 6,383 shares of the company’s stock worth $64,000 after purchasing an additional 2,461 shares in the last quarter. 82.33% of the stock is owned by institutional investors and hedge funds.

Shares of Silverback Therapeutics stock opened at $3.21 on Friday. Silverback Therapeutics has a 52-week low of $3.06 and a 52-week high of $40.10. The stock’s 50-day simple moving average is $3.82 and its 200 day simple moving average is $6.07. The stock has a market capitalization of $112.80 million, a P/E ratio of -1.25 and a beta of 1.82.

Silverback Therapeutics Company Profile (Get Rating)

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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Analyst Recommendations for Silverback Therapeutics (NASDAQ:SBTX)

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