Morgan Stanley Boosts Silence Therapeutics (NASDAQ:SLN) Price Target to $49.00

Silence Therapeutics (NASDAQ:SLN) had its price target hoisted by Morgan Stanley from $45.00 to $49.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Chardan Capital upped their target price on Silence Therapeutics from $42.00 to $55.00 and gave the stock a buy rating in a research report on Friday. HC Wainwright restated a buy rating and issued a $75.00 target price on shares of Silence Therapeutics in a research report on Thursday.

Silence Therapeutics Stock Performance

Shares of NASDAQ SLN opened at $19.00 on Friday. The stock has a 50 day simple moving average of $21.15 and a 200-day simple moving average of $21.03. The company has a market cap of $568.67 million, a PE ratio of -16.38 and a beta of 1.34. Silence Therapeutics has a 12-month low of $4.84 and a 12-month high of $27.72.

Silence Therapeutics (NASDAQ:SLN) last issued its quarterly earnings data on Thursday, May 16th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.18. The business had revenue of $15.73 million during the quarter, compared to the consensus estimate of $4.53 million. Silence Therapeutics had a negative return on equity of 79.90% and a negative net margin of 131.44%. Sell-side analysts forecast that Silence Therapeutics will post -1.52 earnings per share for the current fiscal year.

Institutional Trading of Silence Therapeutics

Large investors have recently added to or reduced their stakes in the company. Redmile Group LLC acquired a new position in shares of Silence Therapeutics in the first quarter worth $43,798,000. Vivo Capital LLC increased its stake in shares of Silence Therapeutics by 116.7% in the first quarter. Vivo Capital LLC now owns 1,105,454 shares of the company’s stock worth $23,878,000 after acquiring an additional 595,250 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Silence Therapeutics in the first quarter worth $13,575,000. Lynx1 Capital Management LP increased its stake in shares of Silence Therapeutics by 123.4% in the first quarter. Lynx1 Capital Management LP now owns 526,642 shares of the company’s stock worth $11,375,000 after acquiring an additional 290,855 shares during the last quarter. Finally, Parkman Healthcare Partners LLC increased its stake in shares of Silence Therapeutics by 20.8% in the fourth quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company’s stock worth $4,046,000 after acquiring an additional 40,063 shares during the last quarter. 98.73% of the stock is owned by institutional investors and hedge funds.

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.