Chardan Capital Reiterates “Buy” Rating for Silence Therapeutics (NASDAQ:SLN)

Chardan Capital reissued their buy rating on shares of Silence Therapeutics (NASDAQ:SLNFree Report) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $55.00 price target on the stock.

Other analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $75.00 price objective on shares of Silence Therapeutics in a report on Monday. William Blair restated an “outperform” rating on shares of Silence Therapeutics in a research report on Tuesday, November 19th. Jefferies Financial Group started coverage on Silence Therapeutics in a report on Tuesday, September 3rd. They issued a “buy” rating and a $40.00 target price on the stock. 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, BMO Capital Markets restated an “outperform” rating on shares of Silence Therapeutics in a research report on Monday, December 2nd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $57.20.

View Our Latest Report on SLN

Silence Therapeutics Price Performance

SLN opened at $7.40 on Tuesday. Silence Therapeutics has a fifty-two week low of $5.81 and a fifty-two week high of $27.72. The company’s 50 day moving average price is $14.42 and its two-hundred day moving average price is $17.40. The firm has a market capitalization of $221.47 million, a price-to-earnings ratio of -4.71 and a beta of 1.05.

Institutional Investors Weigh In On Silence Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Eventide Asset Management LLC bought a new position in shares of Silence Therapeutics during the 3rd quarter worth approximately $11,635,000. First Turn Management LLC acquired a new position in shares of Silence Therapeutics during the 2nd quarter valued at $10,209,000. Millennium Management LLC boosted its stake in Silence Therapeutics by 91.2% during the second quarter. Millennium Management LLC now owns 782,941 shares of the company’s stock worth $14,876,000 after acquiring an additional 373,523 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in Silence Therapeutics by 219.3% in the third quarter. Point72 Asset Management L.P. now owns 467,800 shares of the company’s stock worth $8,505,000 after purchasing an additional 321,300 shares during the period. Finally, Janus Henderson Group PLC increased its stake in 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 purchasing an additional 268,250 shares in the last quarter. Institutional investors and hedge funds own 98.73% of the company’s stock.

About Silence Therapeutics

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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.

Further Reading

Analyst Recommendations for Silence Therapeutics (NASDAQ:SLN)

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