Silverback Therapeutics (NASDAQ:SBTX) Price Target Cut to $5.00

Silverback Therapeutics (NASDAQ:SBTXGet Rating) had its price target trimmed by Stifel Nicolaus from $6.00 to $5.00 in a research report report published on Friday, The Fly reports.

SBTX has been the topic of a number of other reports. The Goldman Sachs Group lowered Silverback Therapeutics from a buy rating to a neutral rating in a report on Friday, April 1st. HC Wainwright lowered Silverback Therapeutics from a buy rating to a neutral rating in a report on Friday, April 1st. Zacks Investment Research raised Silverback Therapeutics from a hold rating to a buy rating and set a $3.75 price objective on the stock in a report on Wednesday, April 6th. SVB Leerink lowered Silverback Therapeutics from an outperform rating to a market perform rating 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. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Silverback Therapeutics has an average rating of Hold and an average price target of $27.15.

NASDAQ:SBTX traded down $0.07 during mid-day trading on Friday, hitting $2.96. 358,537 shares of the company’s stock traded hands, compared to its average volume of 359,440. The company has a fifty day moving average of $3.42 and a 200 day moving average of $5.09. Silverback Therapeutics has a twelve month low of $2.80 and a twelve month high of $35.63.

A number of institutional investors have recently bought and sold shares of SBTX. Wasatch Advisors Inc. boosted its position in Silverback Therapeutics by 67.7% during the first quarter. Wasatch Advisors Inc. now owns 2,974,228 shares of the company’s stock worth $10,440,000 after purchasing an additional 1,200,538 shares in the last quarter. Nextech Invest AG purchased a new position in Silverback Therapeutics during the fourth quarter worth approximately $12,721,000. BlackRock Inc. boosted its position in Silverback Therapeutics by 1.8% during the first quarter. BlackRock Inc. now owns 1,607,500 shares of the company’s stock worth $5,642,000 after purchasing an additional 28,213 shares in the last quarter. Millennium Management LLC boosted its position in Silverback Therapeutics by 10,461.4% during the third quarter. Millennium Management LLC now owns 953,691 shares of the company’s stock worth $9,518,000 after purchasing an additional 944,661 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Silverback Therapeutics by 82.2% during the first quarter. Renaissance Technologies LLC now owns 670,542 shares of the company’s stock worth $2,354,000 after purchasing an additional 302,542 shares in the last quarter. 85.98% of the stock is currently owned by hedge funds and other institutional investors.

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.

Further Reading

The Fly logo

Analyst Recommendations for Silverback Therapeutics (NASDAQ:SBTX)

Receive News & Ratings for Silverback Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silverback Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.