Silverback Therapeutics (NASDAQ:SBTX) Price Target Lowered to $5.00 at Stifel Nicolaus

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

Several other analysts also recently issued reports on the company. SVB Leerink downgraded Silverback Therapeutics from an outperform rating to a market perform rating in a research note on Friday, April 1st. HC Wainwright downgraded Silverback Therapeutics from a buy rating to a neutral rating in a research note on Friday, April 1st. The Goldman Sachs Group downgraded 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 price objective on the stock in a research note on Wednesday, April 6th. Finally, Jonestrading downgraded Silverback Therapeutics from a buy rating to a hold rating in a research report on Friday, April 1st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $27.15.

SBTX traded down $0.07 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’s 50 day simple moving average is $3.42 and its 200-day simple moving average is $5.09. Silverback Therapeutics has a one year low of $2.80 and a one year high of $35.63.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SBTX. Nextech Invest AG bought a new position in shares of Silverback Therapeutics during the 4th quarter valued at approximately $12,721,000. Wasatch Advisors Inc. boosted its holdings in Silverback Therapeutics by 67.7% during the 1st quarter. Wasatch Advisors Inc. now owns 2,974,228 shares of the company’s stock valued at $10,440,000 after acquiring an additional 1,200,538 shares during the period. Millennium Management LLC boosted its holdings 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 acquiring an additional 944,661 shares during the period. Morgan Stanley boosted 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 valued at $6,374,000 after acquiring an additional 625,477 shares during the period. Finally, Ensign Peak Advisors Inc purchased a new position in Silverback Therapeutics during the 4th quarter valued at $2,730,000. 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.

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