Silence Therapeutics (NASDAQ:SLN) Receives “Buy” Rating from Chardan Capital

Silence Therapeutics (NASDAQ:SLN)‘s stock had its “buy” rating reiterated by equities researchers at Chardan Capital in a research note issued to investors on Thursday,Benzinga reports. They currently have a $55.00 target price on the stock. Chardan Capital’s target price points to a potential upside of 293.42% from the company’s previous close.

Several other research firms have also issued reports on SLN. Morgan Stanley reissued an “overweight” rating and issued a $49.00 price target on shares of Silence Therapeutics in a research report on Tuesday, October 8th. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a research note on Friday, August 30th. Finally, Jefferies Financial Group initiated coverage on shares of Silence Therapeutics in a report on Tuesday, September 3rd. They set a “buy” rating and a $40.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $57.20.

Silence Therapeutics Stock Performance

NASDAQ:SLN traded down $1.26 during trading on Thursday, reaching $13.98. The company’s stock had a trading volume of 157,700 shares, compared to its average volume of 198,054. The firm has a market cap of $418.42 million, a price-to-earnings ratio of -11.46 and a beta of 1.30. Silence Therapeutics has a 12 month low of $8.94 and a 12 month high of $27.72. The firm has a 50 day moving average of $18.19 and a 200-day moving average of $19.26.

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

Institutional Trading of Silence Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Redmile Group LLC purchased a new position in Silence Therapeutics in the 1st quarter worth about $43,798,000. Eventide Asset Management LLC bought a new stake in Silence Therapeutics in the third quarter worth about $11,635,000. Janus Henderson Group PLC purchased a new position in shares of Silence Therapeutics during the first quarter valued at approximately $13,575,000. First Turn Management LLC bought a new position in shares of Silence Therapeutics during the second quarter valued at approximately $10,209,000. Finally, Millennium Management LLC raised its holdings in shares of 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. 98.73% of the stock is currently owned by hedge funds and other institutional investors.

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.