Silence Therapeutics plc (NASDAQ:SLN) Receives $57.20 Average Target Price from Analysts

Silence Therapeutics plc (NASDAQ:SLN) has been given an average recommendation of “Buy” by the six ratings firms that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $57.20.

Several brokerages have recently weighed in on SLN. William Blair reaffirmed an “outperform” rating on shares of Silence Therapeutics in a research report on Tuesday, November 19th. Morgan Stanley restated an “overweight” rating and issued a $49.00 target price on shares of Silence Therapeutics in a research note on Tuesday, October 8th. HC Wainwright restated a “buy” rating and issued a $75.00 target price on shares of Silence Therapeutics in a research note on Monday, December 9th. Chardan Capital restated a “buy” rating and issued a $55.00 target price on shares of Silence Therapeutics in a research note on Tuesday, December 10th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Silence Therapeutics in a research note on Monday, December 2nd.

Silence Therapeutics Stock Performance

Shares of SLN opened at $5.99 on Wednesday. The company has a 50 day moving average price of $9.07 and a 200-day moving average price of $15.27. Silence Therapeutics has a fifty-two week low of $5.81 and a fifty-two week high of $27.72. The stock has a market capitalization of $179.27 million, a PE ratio of -3.82 and a beta of 1.08.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLN. Eventide Asset Management LLC purchased a new stake in shares of Silence Therapeutics during the third quarter worth about $11,635,000. Parkman Healthcare Partners LLC increased its stake in shares of Silence Therapeutics by 71.8% during the third quarter. Parkman Healthcare Partners LLC now owns 497,870 shares of the company’s stock worth $9,051,000 after purchasing an additional 208,029 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Silence Therapeutics by 219.3% during the third 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 in the last quarter. Janus Henderson Group PLC boosted its position in Silence Therapeutics by 32.8% during the third quarter. Janus Henderson Group PLC now owns 1,087,228 shares of the company’s stock worth $19,798,000 after acquiring an additional 268,250 shares during the last quarter. Finally, Nicholas Investment Partners LP acquired a new position in Silence Therapeutics during the second quarter worth about $2,859,000. 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.