Silence Therapeutics (NASDAQ:SLN) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Silence Therapeutics (NASDAQ:SLN) in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $75.00 price target on the stock.

Several other brokerages have also recently commented on SLN. Chardan Capital restated a “buy” rating and issued a $55.00 target price on shares of Silence Therapeutics in a research report on Thursday, November 14th. BMO Capital Markets restated an “outperform” rating on shares of Silence Therapeutics in a research report on Monday, December 2nd. Jefferies Financial Group initiated 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. William Blair reiterated an “outperform” rating on shares of Silence Therapeutics in a research note on Tuesday, November 19th. Finally, Morgan Stanley restated an “overweight” rating and set a $49.00 price objective on shares of Silence Therapeutics in a research report on Tuesday, October 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $57.20.

Silence Therapeutics Stock Down 6.2 %

SLN stock opened at $7.99 on Monday. Silence Therapeutics has a 52 week low of $5.81 and a 52 week high of $27.72. The business has a 50-day simple moving average of $14.64 and a 200 day simple moving average of $17.50. The company has a market cap of $239.14 million, a PE ratio of -5.09 and a beta of 1.05.

Institutional Investors Weigh In On Silence Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Eventide Asset Management LLC bought a new position in shares of Silence Therapeutics during the third quarter valued at $11,635,000. First Turn Management LLC bought a new position in Silence Therapeutics during the 2nd quarter worth $10,209,000. Millennium Management LLC lifted its holdings in Silence Therapeutics by 91.2% during the 2nd quarter. Millennium Management LLC now owns 782,941 shares of the company’s stock worth $14,876,000 after buying an additional 373,523 shares during the period. Point72 Asset Management L.P. grew its position in shares of Silence Therapeutics by 219.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 467,800 shares of the company’s stock valued at $8,505,000 after buying an additional 321,300 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Silence Therapeutics by 32.8% in the third quarter. Janus Henderson Group PLC now owns 1,087,228 shares of the company’s stock valued at $19,798,000 after buying an additional 268,250 shares during the period. Institutional investors own 98.73% of the company’s stock.

About Silence Therapeutics

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.