Silence Therapeutics (NASDAQ:SLN) Given Buy Rating at HC Wainwright

Silence Therapeutics (NASDAQ:SLN)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report issued on Wednesday,Benzinga reports. They currently have a $75.00 target price on the stock.

A number of other research analysts have also issued reports on SLN. BMO Capital Markets restated an “outperform” rating on shares of Silence Therapeutics in a report on Monday, December 2nd. William Blair reiterated an “outperform” rating on shares of Silence Therapeutics in a report on Tuesday, November 19th. Chardan Capital restated a “buy” rating and issued a $55.00 price target on shares of Silence Therapeutics in a report on Tuesday, December 10th. Finally, Morgan Stanley restated an “overweight” rating and issued a $49.00 price target on shares of Silence Therapeutics in a report on Tuesday, October 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $57.20.

Silence Therapeutics Price Performance

NASDAQ:SLN traded down $0.07 on Wednesday, reaching $5.27. The stock had a trading volume of 39,628 shares, compared to its average volume of 312,915. The company has a market cap of $157.79 million, a price-to-earnings ratio of -3.35 and a beta of 1.08. The firm’s fifty day moving average is $6.72 and its two-hundred day moving average is $14.06. Silence Therapeutics has a 12-month low of $4.82 and a 12-month high of $27.72.

Institutional Trading of Silence Therapeutics

A number of hedge funds have recently made changes to their positions in SLN. Marshall Wace LLP lifted its holdings in Silence Therapeutics by 7.3% in the second quarter. Marshall Wace LLP now owns 149,397 shares of the company’s stock worth $2,839,000 after acquiring an additional 10,206 shares during the last quarter. Millennium Management LLC increased its position in Silence Therapeutics by 91.2% in the second quarter. Millennium Management LLC now owns 782,941 shares of the company’s stock worth $14,876,000 after buying an additional 373,523 shares during the period. Quarry LP acquired a new stake in Silence Therapeutics in the second quarter worth $114,000. Point72 Asset Management L.P. increased its position in Silence Therapeutics by 1,686.6% in the second quarter. Point72 Asset Management L.P. now owns 146,500 shares of the company’s stock worth $2,784,000 after buying an additional 138,300 shares during the period. Finally, Values First Advisors Inc. acquired a new stake in Silence Therapeutics in the third quarter worth $56,000. Institutional investors and hedge funds 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.