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

Chardan Capital reiterated their buy rating on shares of Silence Therapeutics (NASDAQ:SLN) in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a $55.00 target price on the stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley restated an “overweight” rating and set a $49.00 target price on shares of Silence Therapeutics in a research report on Tuesday, October 8th. Jefferies Financial Group assumed coverage on Silence Therapeutics in a report on Tuesday, September 3rd. They set a “buy” rating and a $40.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 target price on shares of Silence Therapeutics in a report on Friday, August 30th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $57.20.

Silence Therapeutics Stock Performance

Shares of Silence Therapeutics stock opened at $12.70 on Thursday. The stock has a market capitalization of $380.11 million, a P/E ratio of -8.09 and a beta of 1.30. Silence Therapeutics has a 52-week low of $8.94 and a 52-week high of $27.72. The stock’s 50-day simple moving average is $17.98 and its 200 day simple moving average is $19.12.

Silence Therapeutics (NASDAQ:SLN) last posted its quarterly 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). Silence Therapeutics had a negative net margin of 342.00% and a negative return on equity of 65.18%. The business had revenue of $0.76 million during the quarter, compared to the consensus estimate of $11.28 million. Equities research analysts forecast that Silence Therapeutics will post -1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Silence Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Values First Advisors Inc. bought a new position in Silence Therapeutics in the 3rd quarter worth about $56,000. Quarry LP bought a new position in shares of Silence Therapeutics in the second quarter worth approximately $114,000. SG Americas Securities LLC raised its stake in Silence Therapeutics by 10.5% in the first quarter. SG Americas Securities LLC now owns 7,000 shares of the company’s stock valued at $151,000 after purchasing an additional 667 shares in the last quarter. Verition Fund Management LLC bought a new stake in Silence Therapeutics during the third quarter valued at approximately $207,000. Finally, Custom Index Systems LLC purchased a new position in Silence Therapeutics in the 2nd quarter worth approximately $282,000. 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.