Silverback Therapeutics, Inc. (NASDAQ:SBTX) Receives Average Recommendation of “Buy” from Analysts

Silverback Therapeutics, Inc. (NASDAQ:SBTX) has earned an average recommendation of “Buy” from the six research firms that are covering the firm, reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $47.00.

A number of research analysts have recently commented on the stock. Jonestrading reissued a “buy” rating and issued a $50.00 price objective on shares of Silverback Therapeutics in a research report on Thursday, September 16th. Zacks Investment Research cut Silverback Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, November 17th. HC Wainwright reissued a “buy” rating and set a $52.00 price target on shares of Silverback Therapeutics in a research report on Friday, October 15th. Finally, SVB Leerink cut their price objective on Silverback Therapeutics from $42.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, November 12th.

Institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC lifted 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 acquiring an additional 944,661 shares during the last quarter. Wasatch Advisors Inc. increased its stake in shares of Silverback Therapeutics by 121.7% during the third quarter. Wasatch Advisors Inc. now owns 1,431,928 shares of the company’s stock worth $14,291,000 after purchasing an additional 786,148 shares during the period. Morgan Stanley lifted its holdings in Silverback Therapeutics by 4,729.9% during the 3rd quarter. Morgan Stanley now owns 638,701 shares of the company’s stock worth $6,374,000 after purchasing an additional 625,477 shares during the last quarter. BlackRock Inc. boosted its stake in Silverback Therapeutics by 39.6% in the 3rd quarter. BlackRock Inc. now owns 1,227,661 shares of the company’s stock valued at $12,252,000 after purchasing an additional 348,296 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Silverback Therapeutics in the 1st quarter valued at $12,548,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

SBTX stock traded up $0.23 during mid-day trading on Thursday, reaching $7.30. The company had a trading volume of 444,532 shares, compared to its average volume of 272,541. The company has a market capitalization of $256.05 million and a P/E ratio of -2.24. Silverback Therapeutics has a 52 week low of $6.94 and a 52 week high of $63.41. The stock’s 50 day moving average is $11.05.

Silverback Therapeutics (NASDAQ:SBTX) last released its quarterly earnings data on Wednesday, November 10th. The company reported ($0.65) EPS for the quarter, meeting the consensus estimate of ($0.65). On average, sell-side analysts predict that Silverback Therapeutics will post -2.77 earnings per share for the current fiscal year.

Silverback Therapeutics Company Profile

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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