HC Wainwright Reiterates “Buy” Rating for Silence Therapeutics (NASDAQ:SLN)

HC Wainwright reaffirmed their buy rating on shares of Silence Therapeutics (NASDAQ:SLN) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $75.00 target price on the stock. HC Wainwright also issued estimates for Silence Therapeutics’ FY2029 earnings at $0.66 EPS.

Several other equities analysts have also commented on the company. BMO Capital Markets reissued an “outperform” rating on shares of Silence Therapeutics in a report on Monday, December 2nd. Chardan Capital reissued a “buy” rating and set a $55.00 target price on shares of Silence Therapeutics in a research report on Tuesday, December 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $49.00 price target on shares of Silence Therapeutics in a report on Tuesday, October 8th. Finally, William Blair reissued an “outperform” rating on shares of Silence Therapeutics in a report on Tuesday, November 19th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $54.75.

Silence Therapeutics Stock Up 1.5 %

NASDAQ SLN opened at $5.33 on Wednesday. Silence Therapeutics has a 52 week low of $4.82 and a 52 week high of $27.72. The firm has a 50 day moving average of $6.60 and a two-hundred day moving average of $13.83. The stock has a market capitalization of $159.52 million, a PE ratio of -3.39 and a beta of 1.08.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Eventide Asset Management LLC purchased a new position in shares of Silence Therapeutics during the third quarter worth approximately $11,635,000. Millennium Management LLC boosted its stake 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 purchasing an additional 373,523 shares during the period. Point72 Asset Management L.P. grew its position in Silence Therapeutics by 219.3% during the 3rd 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 last quarter. 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 during the period. Finally, Parkman Healthcare Partners LLC raised its holdings in shares of Silence Therapeutics by 71.8% in the third quarter. Parkman Healthcare Partners LLC now owns 497,870 shares of the company’s stock valued at $9,051,000 after buying an additional 208,029 shares during the last quarter. Institutional investors and hedge funds 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.