IndexIQ Advisors LLC bought a new position in Silverback Therapeutics, Inc. (NASDAQ:SBTX – Get Rating) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 113,499 shares of the company's stock, valued at approximately $398,000. IndexIQ Advisors LLC owned approximately 0.32% of Silverback Therapeutics at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Silverback Therapeutics in the 1st quarter worth approximately $142,000. Woodline Partners LP grew its position in shares of Silverback Therapeutics by 16.1% in the 4th quarter. Woodline Partners LP now owns 493,895 shares of the company's stock worth $3,289,000 after acquiring an additional 68,634 shares in the last quarter. Wasatch Advisors Inc. grew its position in shares of Silverback Therapeutics by 23.9% in the 4th quarter. Wasatch Advisors Inc. now owns 1,773,690 shares of the company's stock worth $11,813,000 after acquiring an additional 341,762 shares in the last quarter. Nextech Invest AG acquired a new position in shares of Silverback Therapeutics in the 4th quarter worth approximately $12,721,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Silverback Therapeutics in the 4th quarter worth approximately $77,000. Institutional investors and hedge funds own 85.98% of the company's stock.
Get Silverback Therapeutics alerts:Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus decreased their target price on Silverback Therapeutics from $6.00 to $5.00 in a research report on Friday, May 13th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $33.00.
Silverback Therapeutics Price Performance
NASDAQ:SBTX opened at $4.81 on Wednesday. Silverback Therapeutics, Inc. has a 12-month low of $2.80 and a 12-month high of $31.72. The firm has a market capitalization of $169.05 million, a P/E ratio of -1.77 and a beta of 0.64. The business has a 50 day simple moving average of $4.35 and a 200 day simple moving average of $3.92.Silverback Therapeutics (NASDAQ:SBTX – Get Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.03). Research analysts anticipate that Silverback Therapeutics, Inc. will post -2.23 EPS for the current fiscal year.
Silverback Therapeutics Company Profile
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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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