Silence Therapeutics plc (NASDAQ:SLN) Receives $40.67 Average Price Target from Analysts

Silence Therapeutics plc (NASDAQ:SLN) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $40.67.

A number of research firms have weighed in on SLN. Morgan Stanley reduced their target price on Silence Therapeutics from $49.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a research note on Friday, March 7th. The Goldman Sachs Group lowered their target price on shares of Silence Therapeutics from $6.00 to $4.00 and set a “sell” rating on the stock in a research note on Tuesday, March 4th. Chardan Capital restated a “buy” rating and set a $55.00 price target on shares of Silence Therapeutics in a research report on Tuesday, December 10th. Finally, BMO Capital Markets lowered their price objective on Silence Therapeutics from $67.00 to $25.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th.

Silence Therapeutics Price Performance

Silence Therapeutics stock opened at $3.44 on Monday. Silence Therapeutics has a one year low of $3.19 and a one year high of $24.38. The firm has a market capitalization of $102.96 million, a P/E ratio of -2.19 and a beta of 1.08. The business has a fifty day moving average price of $4.64 and a 200-day moving average price of $9.79.

Institutional Trading of Silence Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in SLN. Nantahala Capital Management LLC raised its holdings in shares of Silence Therapeutics by 424.8% during the 4th quarter. Nantahala Capital Management LLC now owns 1,049,676 shares of the company’s stock valued at $7,222,000 after buying an additional 849,676 shares in the last quarter. Eventide Asset Management LLC bought a new stake in shares of Silence Therapeutics in the 3rd quarter worth approximately $11,635,000. Redmile Group LLC boosted its stake in shares of Silence Therapeutics by 26.3% in the 4th quarter. Redmile Group LLC now owns 2,399,317 shares of the company’s stock valued at $16,507,000 after purchasing an additional 500,000 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Silence Therapeutics by 48,165.6% during the 4th quarter. Bank of America Corp DE now owns 499,066 shares of the company’s stock valued at $3,434,000 after purchasing an additional 498,032 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Silence Therapeutics by 219.3% in 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 period. Hedge funds and other institutional investors 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.