Silence Therapeutics (NASDAQ:SLN) Shares Up 5.8% – Here’s Why

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) traded up 5.8% during trading on Tuesday . The company traded as high as $14.50 and last traded at $14.32. 494,885 shares changed hands during trading, a decline of 10% from the average daily volume of 552,179 shares. The stock had previously closed at $13.53.

Analyst Ratings Changes

Several research firms recently issued reports on SLN. Morgan Stanley raised their target price on shares of Silence Therapeutics from $25.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silence Therapeutics in a research note on Friday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a report on Wednesday, June 17th. Finally, Cantor Fitzgerald initiated coverage on shares of Silence Therapeutics in a research note on Wednesday, June 24th. They set an “overweight” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.50.

Silence Therapeutics Stock Up 9.5%

The company has a 50 day simple moving average of $11.61 and a 200 day simple moving average of $8.17. The company has a market capitalization of $891.71 million, a price-to-earnings ratio of -11.57 and a beta of 1.39.

Silence Therapeutics (NASDAQ:SLN) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.12). Silence Therapeutics had a negative net margin of 8,943.86% and a negative return on equity of 106.94%. On average, research analysts forecast that Silence Therapeutics PLC Sponsored ADR will post -1.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of Silence Therapeutics by 18.1% in the second quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock worth $121,000 after acquiring an additional 1,698 shares in the last quarter. Boothbay Fund Management LLC boosted its position in Silence Therapeutics by 1.0% during 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 during the period. Two Sigma Investments LP boosted its position in 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 purchasing an additional 3,935 shares during the period. ADAR1 Capital Management LLC increased its holdings in Silence Therapeutics by 26.8% in the 4th quarter. ADAR1 Capital Management LLC now owns 23,643 shares of the company’s stock valued at $144,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings 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 purchasing an additional 6,692 shares in the last quarter. 98.73% of the stock is owned by institutional investors and hedge funds.

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.