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. “
Several other brokerages have also recently commented on SBTX. The Goldman Sachs Group boosted their target price on Silverback Therapeutics from $43.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, March 30th. Stifel Nicolaus boosted their target price on Silverback Therapeutics from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, March 30th. Finally, SVB Leerink dropped their target price on Silverback Therapeutics from $49.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, May 17th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $49.50.
Silverback Therapeutics (NASDAQ:SBTX) last announced its earnings results on Thursday, May 13th. The company reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.18). As a group, analysts forecast that Silverback Therapeutics will post -2.37 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Orbimed Advisors LLC bought a new position in shares of Silverback Therapeutics in the fourth quarter valued at $405,053,000. BlackRock Inc. increased its holdings in shares of Silverback Therapeutics by 212.5% in the first quarter. BlackRock Inc. now owns 1,219,268 shares of the company’s stock valued at $53,195,000 after buying an additional 829,107 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Silverback Therapeutics in the first quarter valued at $12,548,000. Wasatch Advisors Inc. increased its holdings in shares of Silverback Therapeutics by 27.0% in the first quarter. Wasatch Advisors Inc. now owns 266,313 shares of the company’s stock valued at $11,620,000 after buying an additional 56,618 shares in the last quarter. Finally, Baker BROS. Advisors LP bought a new position in shares of Silverback Therapeutics in the fourth quarter valued at $11,033,000. 79.33% of the stock is currently owned by institutional investors.
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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