HC Wainwright Reaffirms Buy Rating for Silence Therapeutics (NASDAQ:SLN)

Silence Therapeutics (NASDAQ:SLN)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $75.00 price target on the stock.

Several other brokerages also recently weighed in on SLN. Jefferies Financial Group started coverage on Silence Therapeutics in a research note on Tuesday, September 3rd. They set a “buy” rating and a $40.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $49.00 price target on shares of Silence Therapeutics in a research note on Tuesday, October 8th. BMO Capital Markets reissued an “outperform” rating on shares of Silence Therapeutics in a report on Monday, December 2nd. William Blair reaffirmed an “outperform” rating on shares of Silence Therapeutics in a research note on Tuesday, November 19th. Finally, Chardan Capital reissued a “buy” rating and issued a $55.00 price objective on shares of Silence Therapeutics in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $57.20.

Silence Therapeutics Stock Up 2.1 %

Shares of SLN stock traded up $0.18 during mid-day trading on Monday, hitting $8.70. 233,330 shares of the stock were exchanged, compared to its average volume of 259,849. Silence Therapeutics has a 52-week low of $5.81 and a 52-week high of $27.72. The firm has a fifty day moving average of $14.84 and a 200 day moving average of $17.60. The company has a market cap of $260.39 million, a PE ratio of -5.52 and a beta of 1.05.

Institutional Trading of Silence Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Values First Advisors Inc. acquired a new stake in shares of Silence Therapeutics during the 3rd quarter worth approximately $56,000. Quarry LP acquired a new stake in Silence Therapeutics during the second quarter worth $114,000. Verition Fund Management LLC acquired a new stake in shares of Silence Therapeutics during the third quarter valued at about $207,000. Custom Index Systems LLC acquired a new position in Silence Therapeutics during the 2nd quarter worth $282,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Silence Therapeutics in the 3rd quarter valued at about $318,000. 98.73% of the stock is owned by institutional investors and hedge funds.

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.