Silence Therapeutics (NASDAQ:SLN) Reaches New 1-Year High – Time to Buy?

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.90 and last traded at $11.83, with a volume of 847424 shares traded. The stock had previously closed at $10.85.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a research report on Wednesday, June 17th. Cantor Fitzgerald initiated coverage on Silence Therapeutics in a research note 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 research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Silence Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Silence Therapeutics Trading Down 3.8%

The business’s fifty day moving average price is $8.32 and its 200 day moving average price is $6.77. The company has a market capitalization of $520.58 million, a P/E ratio of -6.93 and a beta of 1.38.

Silence Therapeutics (NASDAQ:SLN) last issued 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 business had revenue of $0.42 million for the quarter, compared to analyst estimates of $1.25 million. Silence Therapeutics had a negative net margin of 8,943.86% and a negative return on equity of 105.34%. Equities research analysts anticipate that Silence Therapeutics PLC Sponsored ADR will post -1.08 EPS for the current year.

Institutional Investors Weigh In On Silence Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Seven Fleet Capital Management LP acquired a new position in shares of Silence Therapeutics in the 4th quarter worth approximately $897,000. Ishara Investments LP acquired a new stake in Silence Therapeutics in the 4th quarter valued at $1,459,000. China Universal Asset Management Co. Ltd. grew 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 valued at $83,000 after acquiring an additional 5,421 shares during the period. Jane Street Group LLC acquired a new position in Silence Therapeutics during the fourth quarter worth $177,000. Finally, ADAR1 Capital Management LLC raised its stake 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 acquiring an additional 5,000 shares in the last quarter. 98.73% of the stock is owned by institutional investors and hedge funds.

Silence Therapeutics Company Profile

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.