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

Shares of Silverback Therapeutics, Inc. (NASDAQ:SBTX – Get Rating) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $4.88.

A number of analysts have recently commented on SBTX shares. The Goldman Sachs Group cut Silverback Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, April 1st. HC Wainwright cut Silverback Therapeutics from a “buy” rating to a “neutral” rating in a research report on Friday, April 1st. Stifel Nicolaus cut Silverback Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the stock from $32.00 to $6.00 in a research report on Friday, April 1st. SVB Leerink cut Silverback Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Friday, April 1st. Finally, Jonestrading cut Silverback Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, April 1st.

Silverback Therapeutics stock opened at $2.90 on Thursday. The firm’s 50 day moving average price is $3.47. The company has a market cap of $101.92 million, a PE ratio of -1.13 and a beta of 1.11. Silverback Therapeutics has a fifty-two week low of $2.88 and a fifty-two week high of $35.63.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nextech Invest AG purchased a new position in Silverback Therapeutics in the 4th quarter worth approximately $12,721,000. Wasatch Advisors Inc. raised its stake in Silverback Therapeutics by 23.9% during the 4th quarter. Wasatch Advisors Inc. now owns 1,773,690 shares of the company’s stock valued at $11,813,000 after buying an additional 341,762 shares during the last quarter. BlackRock Inc. raised its stake in Silverback Therapeutics by 28.6% during the 4th quarter. BlackRock Inc. now owns 1,579,287 shares of the company’s stock valued at $10,518,000 after buying an additional 351,626 shares during the last quarter. Millennium Management LLC raised its stake in Silverback Therapeutics by 10,461.4% during the 3rd quarter. Millennium Management LLC now owns 953,691 shares of the company’s stock valued at $9,518,000 after buying an additional 944,661 shares during the last quarter. Finally, Morgan Stanley raised its stake in Silverback Therapeutics by 4,729.9% during the 3rd quarter. Morgan Stanley now owns 638,701 shares of the company’s stock valued at $6,374,000 after buying an additional 625,477 shares during the last quarter. Institutional investors own 85.98% of the company’s stock.

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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