Silence Therapeutics (NASDAQ:SLN) Announces Earnings Results, Beats Estimates By $0.07 EPS

Silence Therapeutics (NASDAQ:SLN) announced its quarterly earnings data on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.07, Zacks reports. The company had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $2.19 million. Silence Therapeutics had a negative net margin of 254.25% and a negative return on equity of 61.76%.

Silence Therapeutics Price Performance

Shares of SLN stock traded up $0.69 during midday trading on Friday, reaching $6.19. 268,920 shares of the company traded hands, compared to its average volume of 259,452. The firm’s 50 day simple moving average is $5.32 and its two-hundred day simple moving average is $5.75. The firm has a market cap of $292.38 million, a PE ratio of -4.59 and a beta of 1.32. Silence Therapeutics has a 1-year low of $1.97 and a 1-year high of $7.78.

Hedge Funds Weigh In On Silence Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SLN. Boothbay Fund Management LLC grew its holdings in Silence Therapeutics by 1.0% in the second quarter. Boothbay Fund Management LLC now owns 252,421 shares of the company’s stock valued at $1,464,000 after purchasing an additional 2,409 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Silence Therapeutics by 6.6% during the 3rd quarter. Two Sigma Investments LP now owns 63,247 shares of the company’s stock worth $328,000 after buying an additional 3,935 shares during the last quarter. ADAR1 Capital Management LLC boosted its position in shares of Silence Therapeutics by 26.8% in the 4th quarter. ADAR1 Capital Management LLC now owns 23,643 shares of the company’s stock worth $144,000 after buying an additional 5,000 shares in the last quarter. Bank of Montreal Can grew its stake in Silence Therapeutics by 4.4% in the 4th quarter. Bank of Montreal Can now owns 160,474 shares of the company’s stock valued at $976,000 after acquiring an additional 6,692 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Silence Therapeutics during the 4th quarter valued at about $71,000. 98.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SLN shares. Wall Street Zen upgraded shares of Silence Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. William Blair reaffirmed an “outperform” rating on shares of Silence Therapeutics in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Silence Therapeutics in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Silence Therapeutics in a report on Thursday. Five research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $34.50.

About Silence Therapeutics

Silence Therapeutics plc is a clinical-stage biotechnology company focused on the discovery and development of ribonucleic acid interference (RNAi) therapeutics. Leveraging its proprietary EnCore lipid nanoparticle delivery platform, the company aims to silence disease-causing genes in the liver and other tissues. Silence’s technology is designed to enhance targeted delivery of small interfering RNA (siRNA) molecules, with the goal of achieving durable therapeutic effects and improved safety profiles compared with traditional drug modalities.

The company’s lead product candidates include SLN360, an siRNA therapeutic designed to reduce lipoprotein(a) levels for cardiovascular risk reduction, and SLN124, aimed at treating hereditary hemochromatosis and beta-thalassemia by modulating iron metabolism.