Silence Therapeutics’ (SLN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Silence Therapeutics (NASDAQ:SLN) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $75.00 target price on the stock.

A number of other analysts have also commented on the company. Morgan Stanley lifted their price objective on Silence Therapeutics from $45.00 to $49.00 and gave the stock an overweight rating in a research report on Friday, June 28th. Chardan Capital reiterated a buy rating and set a $55.00 price target on shares of Silence Therapeutics in a research report on Friday, August 16th.

Silence Therapeutics Stock Up 1.8 %

Shares of SLN opened at $19.09 on Friday. The stock’s 50-day moving average price is $18.73 and its 200 day moving average price is $21.00. The firm has a market capitalization of $571.33 million, a price-to-earnings ratio of -16.46 and a beta of 1.30. Silence Therapeutics has a 12-month low of $6.15 and a 12-month high of $27.72.

Silence Therapeutics (NASDAQ:SLN) last released its quarterly earnings data on Thursday, August 15th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.10). The company had revenue of $0.76 million for the quarter, compared to analyst estimates of $11.28 million. Silence Therapeutics had a negative return on equity of 58.28% and a negative net margin of 222.44%. Equities research analysts expect that Silence Therapeutics will post -1.52 EPS for the current year.

Hedge Funds Weigh In On Silence Therapeutics

Large investors have recently modified their holdings of the business. Quarry LP acquired a new position in Silence Therapeutics during the second quarter worth approximately $114,000. SG Americas Securities LLC boosted its holdings in shares of Silence Therapeutics by 10.5% during the 1st quarter. SG Americas Securities LLC now owns 7,000 shares of the company’s stock worth $151,000 after buying an additional 667 shares during the period. Custom Index Systems LLC acquired a new position in Silence Therapeutics in the 2nd quarter valued at about $282,000. Legato Capital Management LLC bought a new position in Silence Therapeutics in the 2nd quarter valued at about $376,000. Finally, Point72 Asset Management L.P. lifted its position in Silence Therapeutics by 1,686.6% during the second quarter. Point72 Asset Management L.P. now owns 146,500 shares of the company’s stock worth $2,784,000 after acquiring an additional 138,300 shares during the last quarter. 98.73% of the stock is currently owned by institutional investors and hedge funds.

Silence Therapeutics Company Profile

Silence Therapeutics plc, a biotechnology company, focuses on the discovery and development novel molecules incorporating short interfering ribonucleic acid (siRNA) to inhibit the expression of specific target genes in hematology, cardiovascular, and rare diseases. The company's mRNAi GalNAc Oligonucleotide Discovery platform consists of precision engineered product candidates designed to target specific disease-associated genes in the liver.