Silverback Therapeutics, Inc. (NASDAQ:SBTX – Get Rating) shares shot up 3.4% during mid-day trading on Wednesday . The company traded as high as $5.48 and last traded at $5.44. 115,799 shares traded hands during trading, a decline of 70% from the average session volume of 383,529 shares. The stock had previously closed at $5.26.
Analyst Upgrades and Downgrades
Separately, Stifel Nicolaus dropped their price objective on Silverback Therapeutics from $6.00 to $5.00 in a report on Friday, May 13th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $33.00.
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Silverback Therapeutics Trading Up 3.4 %
The firm has a fifty day simple moving average of $4.78 and a two-hundred day simple moving average of $4.02. The stock has a market cap of $192.98 million, a PE ratio of -2.12 and a beta of 0.65.
Institutional Trading of Silverback Therapeutics
Several institutional investors and hedge funds have recently modified their holdings of SBTX. Acadian Asset Management LLC purchased a new position in shares of Silverback Therapeutics during the 4th quarter valued at about $522,000. Bailard Inc. bought a new position in Silverback Therapeutics during the 4th quarter worth approximately $213,000. Ensign Peak Advisors Inc bought a new position in Silverback Therapeutics during the 4th quarter worth approximately $2,730,000. Schroder Investment Management Group grew its position in Silverback Therapeutics by 3.2% during the 4th quarter. Schroder Investment Management Group now owns 161,173 shares of the company's stock worth $1,073,000 after acquiring an additional 5,037 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Silverback Therapeutics during the 4th quarter worth approximately $77,000. Hedge funds and other institutional investors own 74.89% of the company's stock.
About Silverback Therapeutics
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Silverback Therapeutics, Inc, a biopharmaceutical company, develops tissue-targeted therapeutics for the treatment of chronic viral infections, cancer, and other serious diseases. The company offers SBT8230 to treat chronic hepatitis B virus infection by eliciting an anti-viral immune response by targeting TLR8 activation to the liver.
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