Chardan Capital Increases Silence Therapeutics (NASDAQ:SLN) Price Target to $42.00

Silence Therapeutics (NASDAQ:SLN) had its target price increased by analysts at Chardan Capital from $26.00 to $42.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Chardan Capital’s price target would suggest a potential upside of 74.93% from the company’s current price.

Other equities research analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a research note on Friday. Morgan Stanley increased their price objective on shares of Silence Therapeutics from $29.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday. Finally, BMO Capital Markets initiated coverage on shares of Silence Therapeutics in a report on Wednesday, January 31st. They issued an “outperform” rating and a $67.00 price target for the company.

Silence Therapeutics Stock Performance

Shares of NASDAQ:SLN traded up $1.17 during midday trading on Thursday, hitting $24.01. The company had a trading volume of 123,372 shares, compared to its average volume of 271,954. Silence Therapeutics has a 12-month low of $4.55 and a 12-month high of $27.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.56 and a quick ratio of 4.86. The company has a market cap of $718.57 million, a price-to-earnings ratio of -16.81 and a beta of 1.45. The company has a fifty day moving average of $21.83 and a two-hundred day moving average of $14.98.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Artal Group S.A. grew its stake in shares of Silence Therapeutics by 236.6% in the 2nd quarter. Artal Group S.A. now owns 1,700,000 shares of the company’s stock valued at $9,350,000 after buying an additional 1,194,926 shares during the period. Vivo Capital LLC purchased a new position in Silence Therapeutics in the 4th quarter valued at approximately $8,862,000. Lynx1 Capital Management LP purchased a new position in Silence Therapeutics in the 3rd quarter valued at approximately $2,315,000. M28 Capital Management LP boosted its position in Silence Therapeutics by 149.3% in the 2nd quarter. M28 Capital Management LP now owns 363,800 shares of the company’s stock valued at $2,001,000 after buying an additional 217,900 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Silence Therapeutics by 27.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 965,815 shares of the company’s stock valued at $18,350,000 after purchasing an additional 205,815 shares in the last quarter. Institutional investors and hedge funds own 64.27% of the company’s stock.

About Silence Therapeutics

Silence Therapeutics plc, a biotechnology company, focuses on the discovery and development of novel ribonucleic acid (RNA) therapeutics in hematology, cardiovascular, and other rare and metabolic indications. The company's mRNAi GOLD GalNAc Oligonucleotide Discovery platform that is used to target specific disease-associated genes in the liver.