Silence Therapeutics’ (SLN) “Buy” Rating Reaffirmed at Chardan Capital

Chardan Capital restated their buy rating on shares of Silence Therapeutics (NASDAQ:SLN) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $55.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a report on Friday, August 30th. Jefferies Financial Group started coverage on shares of Silence Therapeutics in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $49.00 price target on shares of Silence Therapeutics in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Silence Therapeutics has a consensus rating of “Buy” and an average target price of $57.20.

Silence Therapeutics Stock Performance

Shares of NASDAQ SLN traded down $0.60 during mid-day trading on Thursday, hitting $13.38. The stock had a trading volume of 75,403 shares, compared to its average volume of 200,732. Silence Therapeutics has a 1 year low of $8.94 and a 1 year high of $27.72. The business has a 50 day moving average price of $18.09 and a two-hundred day moving average price of $19.22. The firm has a market cap of $400.44 million, a P/E ratio of -8.48 and a beta of 1.30.

Silence Therapeutics (NASDAQ:SLN) last released its quarterly earnings results on Thursday, August 15th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.10). The company had revenue of $0.76 million during the quarter, compared to the consensus estimate of $11.28 million. Silence Therapeutics had a negative net margin of 222.44% and a negative return on equity of 58.28%. Equities research analysts predict that Silence Therapeutics will post -1.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Silence Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Values First Advisors Inc. bought a new position in shares of Silence Therapeutics during the 3rd quarter valued at approximately $56,000. Quarry LP bought a new position in shares of Silence Therapeutics during the 2nd quarter valued at about $114,000. SG Americas Securities LLC grew its position in shares of Silence Therapeutics by 10.5% during the first quarter. SG Americas Securities LLC now owns 7,000 shares of the company’s stock valued at $151,000 after purchasing an additional 667 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Silence Therapeutics in the third quarter worth about $207,000. Finally, Custom Index Systems LLC bought a new position in Silence Therapeutics during the second quarter valued at approximately $282,000. Hedge funds and other 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.