Silence Therapeutics (NASDAQ:SLN) Stock Price Up 6.9% – Still a Buy?

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s stock price traded up 6.9% on Wednesday . The stock traded as high as $11.56 and last traded at $11.60. Approximately 188,459 shares traded hands during trading, a decline of 46% from the average session volume of 348,887 shares. The stock had previously closed at $10.85.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLN. Weiss Ratings restated a “sell (d-)” rating on shares of Silence Therapeutics in a research report on Friday, July 17th. Cantor Fitzgerald initiated coverage on shares of Silence Therapeutics in a research report on Wednesday, June 24th. They set an “overweight” rating on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.00.

Silence Therapeutics Stock Performance

The company has a market cap of $540.90 million, a P/E ratio of -7.20 and a beta of 1.38. The stock has a 50 day moving average price of $8.22 and a 200 day moving average price of $6.74.

Silence Therapeutics (NASDAQ:SLN) last announced its earnings results on Friday, May 8th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.14). The firm had revenue of $0.42 million for the quarter, compared to the consensus estimate of $1.25 million. Silence Therapeutics had a negative net margin of 8,943.86% and a negative return on equity of 105.34%. As a group, equities research analysts predict that Silence Therapeutics PLC Sponsored ADR will post -1.08 earnings per share for the current year.

Hedge Funds Weigh In On Silence Therapeutics

Large investors have recently made changes to their positions in the business. Boothbay Fund Management LLC raised its holdings in shares of Silence Therapeutics by 1.0% in the 2nd quarter. Boothbay Fund Management LLC now owns 252,421 shares of the company’s stock worth $1,464,000 after purchasing an additional 2,409 shares in the last quarter. Massar Capital Management LP bought a new stake in Silence Therapeutics during the second quarter worth approximately $115,000. UBS Group AG boosted its holdings in Silence Therapeutics by 34.5% during the third quarter. UBS Group AG now owns 307,363 shares of the company’s stock worth $1,595,000 after buying an additional 78,854 shares in the last quarter. Two Sigma Investments LP grew its position in Silence Therapeutics by 6.6% in the third 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. Finally, Citadel Advisors LLC acquired a new position in Silence Therapeutics in the third quarter worth approximately $112,000. Institutional investors own 98.73% of the company’s stock.

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.