Brokerages Set Silence Therapeutics plc (NASDAQ:SLN) PT at $57.20

Silence Therapeutics plc (NASDAQ:SLN) has been given an average recommendation of “Buy” by the six brokerages that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $57.20.

A number of research analysts have issued reports on SLN shares. BMO Capital Markets reissued an “outperform” rating on shares of Silence Therapeutics in a research note on Monday, December 2nd. Chardan Capital restated a “buy” rating and issued a $55.00 price objective on shares of Silence Therapeutics in a report on Tuesday, December 10th. Morgan Stanley reiterated an “overweight” rating and issued a $49.00 target price on shares of Silence Therapeutics in a report on Tuesday, October 8th. HC Wainwright reaffirmed a “buy” rating and set a $75.00 target price on shares of Silence Therapeutics in a research report on Monday, December 9th. Finally, William Blair restated an “outperform” rating on shares of Silence Therapeutics in a research report on Tuesday, November 19th.

Silence Therapeutics Price Performance

Silence Therapeutics stock opened at $5.99 on Wednesday. Silence Therapeutics has a 12 month low of $5.81 and a 12 month high of $27.72. The company has a fifty day moving average price of $9.07 and a two-hundred day moving average price of $15.22. The company has a market cap of $179.27 million, a PE ratio of -3.82 and a beta of 1.08.

Institutional Investors Weigh In On Silence Therapeutics

Several hedge funds have recently made changes to their positions in SLN. Eventide Asset Management LLC bought a new position in shares of Silence Therapeutics during the third quarter valued at $11,635,000. First Turn Management LLC acquired a new position in shares of Silence Therapeutics during the 2nd quarter worth about $10,209,000. Millennium Management LLC increased its position in shares of Silence Therapeutics by 91.2% in the 2nd quarter. Millennium Management LLC now owns 782,941 shares of the company’s stock valued at $14,876,000 after buying an additional 373,523 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of 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 period. Finally, Janus Henderson Group PLC raised its holdings in Silence Therapeutics by 32.8% during the 3rd quarter. Janus Henderson Group PLC now owns 1,087,228 shares of the company’s stock worth $19,798,000 after buying an additional 268,250 shares during the period. Institutional investors own 98.73% of the company’s stock.

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.