Silence Therapeutics (NASDAQ:SLN) Earns “Overweight” Rating from Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Silence Therapeutics (NASDAQ:SLN) in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a $49.00 price objective on the stock.

SLN has been the topic of several other research reports. HC Wainwright reaffirmed a buy rating and issued a $75.00 price objective on shares of Silence Therapeutics in a research report on Friday, August 30th. Jefferies Financial Group initiated coverage on shares of Silence Therapeutics in a report on Tuesday, September 3rd. They issued a buy rating and a $40.00 price target on the stock. Finally, Chardan Capital reiterated a buy rating and set a $55.00 price objective on shares of Silence Therapeutics in a report on Friday, August 16th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $57.20.

Silence Therapeutics Trading Up 2.3 %

SLN stock opened at $19.65 on Tuesday. The stock has a market cap of $588.12 million, a PE ratio of -16.11 and a beta of 1.29. Silence Therapeutics has a 12 month low of $6.15 and a 12 month high of $27.72. The company has a 50-day moving average price of $17.98 and a 200 day moving average price of $19.90.

Silence Therapeutics (NASDAQ:SLN) last announced its earnings results on Thursday, August 15th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.10). The business had revenue of $0.76 million for the quarter, compared to analysts’ expectations of $11.28 million. Silence Therapeutics had a negative net margin of 222.44% and a negative return on equity of 58.28%. Sell-side analysts forecast that Silence Therapeutics will post -1.55 EPS for the current year.

Hedge Funds Weigh In On Silence Therapeutics

Several institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in Silence Therapeutics during the second quarter valued at approximately $114,000. SG Americas Securities LLC increased its holdings 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 valued at $151,000 after acquiring an additional 667 shares during the period. Custom Index Systems LLC bought a new position in shares of Silence Therapeutics in the 2nd quarter worth $282,000. Legato Capital Management LLC purchased a new stake in shares of Silence Therapeutics during the 2nd quarter worth $376,000. Finally, Point72 Asset Management L.P. boosted its position in Silence Therapeutics by 1,686.6% during the second quarter. Point72 Asset Management L.P. now owns 146,500 shares of the company’s stock valued at $2,784,000 after purchasing an additional 138,300 shares in the last quarter. Hedge funds and other institutional investors own 98.73% of the company’s stock.

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.