Silence Therapeutics (NASDAQ:SLN) Stock Rating Reaffirmed by HC Wainwright

Silence Therapeutics (NASDAQ:SLN)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They presently have a $75.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 300.00% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Morgan Stanley lifted their price objective on shares of Silence Therapeutics from $45.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, June 28th. Chardan Capital reiterated a “buy” rating and issued a $55.00 price objective on shares of Silence Therapeutics in a research report on Friday, August 16th.

Silence Therapeutics Stock Performance

NASDAQ:SLN opened at $18.75 on Friday. The company has a fifty day moving average of $18.74 and a two-hundred day moving average of $21.04. The stock has a market capitalization of $561.15 million, a PE ratio of -16.16 and a beta of 1.30. Silence Therapeutics has a fifty-two week low of $6.15 and a fifty-two week high of $27.72.

Silence Therapeutics (NASDAQ:SLN) last announced its earnings results 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). Silence Therapeutics had a negative return on equity of 58.28% and a negative net margin of 222.44%. The company had revenue of $0.76 million for the quarter, compared to analysts’ expectations of $11.28 million. Research analysts forecast that Silence Therapeutics will post -1.52 earnings per share for the current year.

Institutional Investors Weigh In On Silence Therapeutics

Several institutional investors have recently made changes to their positions in SLN. Lombard Odier Asset Management USA Corp grew its position in shares of Silence Therapeutics by 0.7% in the second quarter. Lombard Odier Asset Management USA Corp now owns 2,405,998 shares of the company’s stock valued at $45,714,000 after purchasing an additional 17,086 shares during the last quarter. Redmile Group LLC acquired a new stake in Silence Therapeutics during the 1st quarter worth $43,798,000. Millennium Management LLC grew its holdings in shares of Silence Therapeutics by 91.2% in the 2nd quarter. Millennium Management LLC now owns 782,941 shares of the company’s stock valued at $14,876,000 after acquiring an additional 373,523 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Silence Therapeutics in the 1st quarter valued at about $13,575,000. Finally, First Turn Management LLC acquired a new stake in Silence Therapeutics in the 2nd quarter valued at about $10,209,000. 98.73% of the stock is currently 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.