Silence Therapeutics (NASDAQ:SLN) Trading Down 6.9% – What’s Next?

Shares of Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) traded down 6.9% on Wednesday . The company traded as low as $13.60 and last traded at $13.70. Approximately 3,559,474 shares were traded during mid-day trading, an increase of 595% from the average daily volume of 512,178 shares. The stock had previously closed at $14.72.

Analysts Set New Price Targets

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

Silence Therapeutics Stock Down 2.3%

The company has a market cap of $645.06 million, a P/E ratio of -10.71 and a beta of 1.39. The company has a 50 day moving average price of $9.94 and a 200-day moving average price of $7.43.

Silence Therapeutics (NASDAQ:SLN) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.12). Silence Therapeutics had a negative net margin of 8,943.86% and a negative return on equity of 96.82%. On average, research analysts expect that Silence Therapeutics PLC Sponsored ADR will post -1.08 earnings per share for the current fiscal year.

Institutional Trading of Silence Therapeutics

A number of institutional investors have recently made changes to their positions in SLN. GAMMA Investing LLC boosted its holdings 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 valued at $121,000 after acquiring an additional 1,698 shares in the last quarter. Boothbay Fund Management LLC increased its stake in shares of Silence Therapeutics by 1.0% during the second quarter. Boothbay Fund Management LLC now owns 252,421 shares of the company’s stock valued at $1,464,000 after acquiring an additional 2,409 shares during the period. Two Sigma Investments LP raised its holdings in Silence Therapeutics by 6.6% during the third 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 in the last quarter. ADAR1 Capital Management LLC raised its holdings in Silence Therapeutics by 26.8% during the fourth quarter. ADAR1 Capital Management LLC now owns 23,643 shares of the company’s stock worth $144,000 after purchasing an additional 5,000 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Silence Therapeutics by 65.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,653 shares of the company’s stock worth $83,000 after purchasing an additional 5,421 shares during the period. 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.