Silence Therapeutics’ (SLN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Silence Therapeutics (NASDAQ:SLN) in a research report report published on Friday morning,Benzinga reports. They currently have a $75.00 price objective on the stock.

SLN has been the topic of a number of other research reports. BMO Capital Markets cut their price target on shares of Silence Therapeutics from $67.00 to $25.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. The Goldman Sachs Group cut their price target on shares of Silence Therapeutics from $6.00 to $4.00 and set a “sell” rating on the stock in a report on Tuesday, March 4th. Morgan Stanley cut their price target on shares of Silence Therapeutics from $49.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. William Blair restated an “outperform” rating on shares of Silence Therapeutics in a report on Tuesday, November 19th. Finally, Chardan Capital restated a “buy” rating and set a $55.00 price target on shares of Silence Therapeutics in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.67.

Silence Therapeutics Price Performance

NASDAQ SLN opened at $4.85 on Friday. The company’s 50 day simple moving average is $5.40 and its 200 day simple moving average is $11.34. Silence Therapeutics has a 12 month low of $4.06 and a 12 month high of $27.72. The company has a market capitalization of $145.16 million, a P/E ratio of -3.09 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. Nantahala Capital Management LLC grew its position in Silence Therapeutics by 424.8% during the fourth quarter. Nantahala Capital Management LLC now owns 1,049,676 shares of the company’s stock valued at $7,222,000 after purchasing an additional 849,676 shares in the last quarter. Eventide Asset Management LLC acquired a new position in shares of Silence Therapeutics during the 3rd quarter worth $11,635,000. Redmile Group LLC increased its stake in shares of Silence Therapeutics by 26.3% during the 4th quarter. Redmile Group LLC now owns 2,399,317 shares of the company’s stock worth $16,507,000 after purchasing an additional 500,000 shares during the last quarter. Bank of America Corp DE increased its stake 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 worth $3,434,000 after purchasing an additional 498,032 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Silence Therapeutics by 219.3% during 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 last quarter. 98.73% of the stock is 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.