Silence Therapeutics plc (NASDAQ:SLN) Receives Average Recommendation of “Buy” from Brokerages

Shares of Silence Therapeutics plc (NASDAQ:SLN) have received a consensus rating of “Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $57.20.

A number of brokerages recently commented on SLN. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of Silence Therapeutics in a research note on Friday, November 15th. 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. William Blair reaffirmed an “outperform” rating on shares of Silence Therapeutics in a report on Tuesday, November 19th. Jefferies Financial Group initiated coverage on Silence Therapeutics in a research note on Tuesday, September 3rd. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Chardan Capital restated a “buy” rating and issued a $55.00 target price on shares of Silence Therapeutics in a research note on Thursday, November 14th.

Silence Therapeutics Stock Performance

Shares of Silence Therapeutics stock opened at $7.01 on Tuesday. The stock has a market capitalization of $209.80 million, a P/E ratio of -4.46 and a beta of 1.30. Silence Therapeutics has a 52-week low of $5.81 and a 52-week high of $27.72. The stock’s 50-day simple moving average is $16.90 and its 200 day simple moving average is $18.65.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SLN. Lombard Odier Asset Management USA Corp grew its position in Silence Therapeutics by 0.7% in the second quarter. Lombard Odier Asset Management USA Corp now owns 2,405,998 shares of the company’s stock worth $45,714,000 after acquiring an additional 17,086 shares in the last quarter. Redmile Group LLC purchased a new position in shares of Silence Therapeutics during the 1st quarter valued at about $43,798,000. Janus Henderson Group PLC lifted its position in Silence Therapeutics by 32.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,087,228 shares of the company’s stock worth $19,798,000 after buying an additional 268,250 shares during the last quarter. Millennium Management LLC grew its position in Silence Therapeutics by 91.2% during the second quarter. Millennium Management LLC now owns 782,941 shares of the company’s stock valued at $14,876,000 after acquiring an additional 373,523 shares during the last quarter. Finally, Eventide Asset Management LLC purchased a new position in shares of Silence Therapeutics during the third quarter worth approximately $11,635,000. 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.