Silence Therapeutics plc (NASDAQ:SLN) Receives Consensus Rating of "Buy" from Brokerages

Silence Therapeutics plc (NASDAQ:SLN - Get Free Report) has received a consensus recommendation of "Buy" from the six analysts that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have issued a report on the stock in the last year is $57.20.

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

Hedge Funds Weigh In On Silence Therapeutics

Several large investors have recently modified their holdings of the business. Redmile Group LLC purchased a new stake in Silence Therapeutics during the 1st quarter worth about $43,798,000. Eventide Asset Management LLC purchased a new stake in shares of Silence Therapeutics in the third quarter worth about $11,635,000. Janus Henderson Group PLC bought a new position in shares of Silence Therapeutics in the first quarter valued at approximately $13,575,000. First Turn Management LLC purchased a new position in Silence Therapeutics during the second quarter valued at approximately $10,209,000. Finally, Millennium Management LLC increased its holdings in Silence Therapeutics by 91.2% during the 2nd quarter. Millennium Management LLC now owns 782,941 shares of the company's stock worth $14,876,000 after acquiring an additional 373,523 shares during the period. Hedge funds and other institutional investors own 98.73% of the company's stock.

Silence Therapeutics Stock Down 36.8 %

Silence Therapeutics stock traded down $4.05 during midday trading on Tuesday, hitting $6.97. 4,518,771 shares of the stock were exchanged, compared to its average volume of 224,298. Silence Therapeutics has a 52-week low of $6.31 and a 52-week high of $27.72. The business's 50-day moving average price is $17.58 and its 200-day moving average price is $18.94. The stock has a market capitalization of $208.60 million, a price-to-earnings ratio of -4.44 and a beta of 1.30.

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.