Investment Analysts’ Weekly Ratings Changes for Silverback Therapeutics (SBTX)

Silverback Therapeutics (NASDAQ: SBTX) has recently received a number of price target changes and ratings updates:

  • 4/6/2022 – Silverback Therapeutics was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $3.75 price target on the stock. According to Zacks, “Silverback Therapeutics Inc. is a clinical-stage biopharmaceutical company. Its ImmunoTAC technology platform, develop systemically delivered, tissue targeted therapeutics for the treatment of cancer, chronic viral infections and other serious diseases. Silverback Therapeutics Inc. is based in Seattle, United States. “
  • 4/1/2022 – Silverback Therapeutics was downgraded by analysts at The Goldman Sachs Group, Inc. from a “buy” rating to a “neutral” rating.
  • 4/1/2022 – Silverback Therapeutics was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating.
  • 4/1/2022 – Silverback Therapeutics was downgraded by analysts at SVB Leerink LLC from an “outperform” rating to a “market perform” rating.
  • 4/1/2022 – Silverback Therapeutics was downgraded by analysts at Jonestrading from a “buy” rating to a “hold” rating.
  • 4/1/2022 – Silverback Therapeutics was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $6.00 price target on the stock, down previously from $32.00.

Shares of NASDAQ:SBTX opened at $3.15 on Friday. The company has a market cap of $110.70 million, a P/E ratio of -1.23 and a beta of 1.82. Silverback Therapeutics, Inc. has a 52 week low of $3.06 and a 52 week high of $38.16. The business has a fifty day simple moving average of $3.74 and a 200-day simple moving average of $5.88.

A number of institutional investors have recently modified their holdings of the stock. EMC Capital Management acquired a new position in shares of Silverback Therapeutics during the third quarter worth about $62,000. Trexquant Investment LP purchased a new stake in shares of Silverback Therapeutics during the third quarter worth about $451,000. Jump Financial LLC bought a new stake in Silverback Therapeutics in the third quarter valued at about $324,000. Man Group plc increased its holdings in Silverback Therapeutics by 71.9% in the third quarter. Man Group plc now owns 23,113 shares of the company’s stock valued at $231,000 after buying an additional 9,670 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in Silverback Therapeutics by 71.3% in the third quarter. Squarepoint Ops LLC now owns 15,593 shares of the company’s stock valued at $156,000 after buying an additional 6,492 shares during the last quarter. Hedge funds and other institutional investors own 82.33% of the company’s stock.

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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