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

Silence Therapeutics (NASDAQ:SLN) had its target price raised by investment analysts at Chardan Capital from $26.00 to $42.00 in a report released on Thursday, Benzinga reports. The brokerage currently 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.

SLN has been the subject of several other research reports. Morgan Stanley upped their price target on shares of Silence Therapeutics from $29.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday. HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of Silence Therapeutics in a research note on Friday. Finally, BMO Capital Markets initiated coverage on shares of Silence Therapeutics in a research note on Wednesday, January 31st. They issued an “outperform” rating and a $67.00 price objective on the stock.

Silence Therapeutics Stock Up 5.1 %

NASDAQ SLN traded up $1.17 on Thursday, hitting $24.01. 123,372 shares of the stock were exchanged, compared to its average volume of 271,954. The company has a quick ratio of 4.86, a current ratio of 4.56 and a debt-to-equity ratio of 0.01. Silence Therapeutics has a fifty-two week low of $4.55 and a fifty-two week high of $27.72. The company has a market cap of $718.57 million, a PE ratio of -16.81 and a beta of 1.45. The company has a 50-day moving average price of $21.83 and a 200-day moving average price of $14.98.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Silence Therapeutics by 27.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 965,815 shares of the company’s stock worth $18,350,000 after acquiring an additional 205,815 shares during the period. Citadel Advisors LLC purchased a new position in shares of Silence Therapeutics during the 2nd quarter worth about $136,000. UBS Group AG raised its holdings in Silence Therapeutics by 4.8% in the fourth quarter. UBS Group AG now owns 69,006 shares of the company’s stock valued at $1,052,000 after buying an additional 3,191 shares during the period. Morgan Stanley raised its holdings in Silence Therapeutics by 36.0% in the fourth quarter. Morgan Stanley now owns 210,973 shares of the company’s stock valued at $3,217,000 after buying an additional 55,814 shares during the period. Finally, Millennium Management LLC raised its holdings in Silence Therapeutics by 19.8% in the fourth quarter. Millennium Management LLC now owns 17,436 shares of the company’s stock valued at $266,000 after buying an additional 2,879 shares during the period. 64.27% of the stock is currently owned by hedge funds and other institutional investors.

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.