Silence Therapeutics plc (NASDAQ:SLN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Silence Therapeutics plc (NASDAQ:SLN) have earned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $57.20.

A number of equities research analysts have recently commented on SLN shares. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a research note on Friday. Chardan Capital reaffirmed a “buy” rating and issued a $55.00 target price on shares of Silence Therapeutics in a research note on Thursday, November 14th. Jefferies Financial Group initiated coverage on Silence Therapeutics in a research report on Tuesday, September 3rd. They set a “buy” rating and a $40.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and issued a $49.00 target price on shares of Silence Therapeutics in a research report on Tuesday, October 8th. Finally, William Blair restated an “outperform” rating on shares of Silence Therapeutics in a research report on Tuesday.

Silence Therapeutics Stock Performance

Silence Therapeutics stock traded down $4.19 during midday trading on Tuesday, hitting $6.83. 2,121,910 shares of the company were exchanged, compared to its average volume of 213,613. The business has a fifty day simple moving average of $17.82 and a two-hundred day simple moving average of $19.05. The firm has a market capitalization of $204.42 million, a PE ratio of -4.24 and a beta of 1.30. Silence Therapeutics has a fifty-two week low of $6.31 and a fifty-two week high of $27.72.

Institutional Trading of Silence Therapeutics

A number of large investors have recently made changes to their positions in SLN. Y Intercept Hong Kong Ltd lifted its holdings in Silence Therapeutics by 22.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 21,078 shares of the company’s stock worth $383,000 after buying an additional 3,923 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in 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 during the last quarter. Parkman Healthcare Partners LLC boosted its holdings in Silence Therapeutics by 71.8% in the third quarter. Parkman Healthcare Partners LLC now owns 497,870 shares of the company’s stock valued at $9,051,000 after purchasing an additional 208,029 shares in the last quarter. Ikarian Capital LLC increased its stake in Silence Therapeutics by 15.9% in the third quarter. Ikarian Capital LLC now owns 587,343 shares of the company’s stock valued at $10,678,000 after purchasing an additional 80,678 shares during the last quarter. Finally, Janus Henderson Group PLC raised its holdings 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 purchasing an additional 268,250 shares in the last quarter. 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.