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

HC Wainwright restated their buy rating on shares of Silence Therapeutics (NASDAQ:SLN) in a research note released on Friday morning, Benzinga reports. HC Wainwright currently has a $75.00 price objective on the stock.

A number of other research analysts have also weighed in on the stock. Chardan Capital reaffirmed a buy rating and issued a $55.00 price objective on shares of Silence Therapeutics in a research note on Friday, August 16th. Morgan Stanley raised their price target on shares of Silence Therapeutics from $45.00 to $49.00 and gave the company an overweight rating in a research report on Friday, June 28th.

Silence Therapeutics Price Performance

SLN stock opened at $19.09 on Friday. The company’s 50-day moving average is $18.73 and its 200-day moving average is $21.01. The stock has a market capitalization of $571.36 million, a PE ratio of -16.46 and a beta of 1.30. Silence Therapeutics has a 1 year low of $6.15 and a 1 year high of $27.72.

Silence Therapeutics (NASDAQ:SLN) last announced 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 return on equity of 58.28% and a negative net margin of 222.44%. The firm had revenue of $0.76 million during the quarter, compared to the consensus estimate of $11.28 million. On average, analysts anticipate that Silence Therapeutics will post -1.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Redmile Group LLC purchased a new stake in shares of Silence Therapeutics during the 1st quarter valued at $43,798,000. Janus Henderson Group PLC bought a new stake in Silence Therapeutics in the first quarter worth about $13,575,000. First Turn Management LLC bought a new stake in Silence Therapeutics in the second quarter worth about $10,209,000. Vivo Capital LLC purchased a new position in Silence Therapeutics in the fourth quarter valued at about $8,862,000. Finally, Millennium Management LLC grew its position in shares of Silence Therapeutics by 91.2% during the 2nd 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 period. 98.73% of the stock is currently owned by hedge funds and other institutional investors.

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.