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

Silence Therapeutics plc (NASDAQ:SLN) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $40.67.

SLN has been the topic of a number of research analyst reports. BMO Capital Markets decreased 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. HC Wainwright reissued a “buy” rating and issued a $75.00 target price on shares of Silence Therapeutics in a research note on Friday, March 7th. Chardan Capital reaffirmed a “buy” rating and set a $55.00 price target on shares of Silence Therapeutics in a research note on Tuesday, December 10th. Morgan Stanley reduced their price objective on Silence Therapeutics from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, The Goldman Sachs Group dropped their target price on Silence Therapeutics from $6.00 to $4.00 and set a “sell” rating for the company in a research report on Tuesday, March 4th.

Silence Therapeutics Price Performance

Shares of SLN opened at $3.44 on Monday. Silence Therapeutics has a 1-year low of $3.19 and a 1-year high of $24.38. The company has a market capitalization of $102.96 million, a P/E ratio of -2.19 and a beta of 1.08. The firm’s 50 day simple moving average is $4.64 and its 200 day simple moving average is $9.92.

Institutional Investors Weigh In On Silence Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Woodline Partners LP increased its stake in Silence Therapeutics by 22.6% in the 4th quarter. Woodline Partners LP now owns 498,732 shares of the company’s stock worth $3,431,000 after purchasing an additional 91,829 shares during the period. Two Sigma Advisers LP increased its stake in shares of Silence Therapeutics by 18.6% in the fourth quarter. Two Sigma Advisers LP now owns 98,800 shares of the company’s stock worth $680,000 after buying an additional 15,500 shares during the period. Redmile Group LLC increased its stake in shares of Silence Therapeutics by 26.3% in the fourth quarter. Redmile Group LLC now owns 2,399,317 shares of the company’s stock worth $16,507,000 after buying an additional 500,000 shares during the period. Point72 Asset Management L.P. raised its holdings in Silence Therapeutics by 35.3% during the 4th quarter. Point72 Asset Management L.P. now owns 633,100 shares of the company’s stock valued at $4,356,000 after buying an additional 165,300 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Silence Therapeutics by 50.5% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 128,990 shares of the company’s stock valued at $887,000 after buying an additional 43,289 shares during the period. 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.