Silence Therapeutics (NASDAQ:SLN) Earns Buy Rating from HC Wainwright

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

A number of other brokerages also recently weighed in on SLN. Chardan Capital reissued a “buy” rating and set a $55.00 target price on shares of Silence Therapeutics in a research note on Thursday. Morgan Stanley reissued an “overweight” rating and set a $49.00 target price on shares of Silence Therapeutics in a research report on Tuesday, October 8th. Finally, Jefferies Financial Group started coverage on Silence Therapeutics in a report on Tuesday, September 3rd. They set a “buy” rating and a $40.00 price objective on the stock. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $57.20.

Silence Therapeutics Trading Down 9.2 %

SLN stock traded down $1.28 during mid-day trading on Friday, hitting $12.70. The stock had a trading volume of 438,712 shares, compared to its average volume of 202,369. The firm has a market capitalization of $380.09 million, a P/E ratio of -8.09 and a beta of 1.30. The firm has a fifty day simple moving average of $17.98 and a 200 day simple moving average of $19.16. Silence Therapeutics has a 52 week low of $8.94 and a 52 week 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 for the quarter, missing the consensus estimate of ($0.32) by ($0.10). The business had revenue of $0.76 million during the quarter, compared to analyst estimates of $11.28 million. Silence Therapeutics had a negative net margin of 222.44% and a negative return on equity of 58.28%. As a group, equities analysts expect that Silence Therapeutics will post -1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silence Therapeutics

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

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.