Silence Therapeutics (NASDAQ:SLN) Receives “Buy” Rating from HC Wainwright

Silence Therapeutics (NASDAQ:SLN)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report released on Friday,Benzinga reports. They currently have a $75.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 476.04% from the stock’s current price.

Several other research analysts have also commented on SLN. Morgan Stanley restated an “overweight” rating and issued a $49.00 price target on shares of Silence Therapeutics in a report on Tuesday, October 8th. Jefferies Financial Group assumed coverage on Silence Therapeutics in a research note on Tuesday, September 3rd. They set a “buy” rating and a $40.00 target price for the company. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $55.00 price target on shares of Silence Therapeutics in a report on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Silence Therapeutics has a consensus rating of “Buy” and a consensus price target of $57.20.

Silence Therapeutics Price Performance

Shares of NASDAQ SLN traded down $0.96 during trading on Friday, hitting $13.02. 283,429 shares of the company were exchanged, compared to its average volume of 201,669. Silence Therapeutics has a 1 year low of $8.94 and a 1 year high of $27.72. The firm’s fifty day moving average price is $18.09 and its 200 day moving average price is $19.22. The company has a market cap of $389.66 million, a price-to-earnings ratio of -8.29 and a beta of 1.30.

Silence Therapeutics (NASDAQ:SLN) last released its quarterly earnings results 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). Silence Therapeutics had a negative return on equity of 58.28% and a negative net margin of 222.44%. The firm had revenue of $0.76 million for the quarter, compared to analyst estimates of $11.28 million. On average, research analysts forecast that Silence Therapeutics will post -1.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC grew its position in Silence Therapeutics by 10.5% in the first 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 last quarter. Redmile Group LLC purchased a new position in Silence Therapeutics in the first quarter valued at about $43,798,000. Janus Henderson Group PLC acquired a new stake in Silence Therapeutics in the first quarter valued at approximately $13,575,000. Lynx1 Capital Management LP increased its stake in shares of Silence Therapeutics by 123.4% during the 1st quarter. Lynx1 Capital Management LP now owns 526,642 shares of the company’s stock worth $11,375,000 after purchasing an additional 290,855 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new stake in shares of Silence Therapeutics in the 2nd quarter valued at $376,000. 98.73% of the stock is 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.