Silence Therapeutics (NASDAQ:SLN) Stock Price Down 7.4%

Silence Therapeutics plc (NASDAQ:SLN)’s stock price fell 7.4% during mid-day trading on Thursday . The company traded as low as $21.50 and last traded at $21.50. 72,002 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 214,181 shares. The stock had previously closed at $23.22.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SLN shares. Morgan Stanley restated an “overweight” rating and set a $45.00 price target on shares of Silence Therapeutics in a research report on Monday, April 22nd. Chardan Capital reiterated a “buy” rating and issued a $42.00 price target on shares of Silence Therapeutics in a research report on Friday, May 17th. BMO Capital Markets started coverage on shares of Silence Therapeutics in a report on Wednesday, January 31st. They issued an “outperform” rating and a $67.00 price target for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 price objective on shares of Silence Therapeutics in a research note on Friday.

Silence Therapeutics Trading Down 0.4 %

The stock has a 50-day moving average price of $22.02 and a 200 day moving average price of $19.47.

Silence Therapeutics (NASDAQ:SLN) last posted its quarterly earnings results on Thursday, May 16th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.18. The firm had revenue of $15.73 million during the quarter, compared to the consensus estimate of $4.53 million. Silence Therapeutics had a negative return on equity of 79.90% and a negative net margin of 131.44%. Research analysts forecast that Silence Therapeutics plc will post -1.33 EPS for the current year.

Institutional Investors Weigh In On Silence Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in SLN. Lynx1 Capital Management LP purchased a new position in shares of Silence Therapeutics in the third quarter valued at $2,315,000. SG Americas Securities LLC bought a new stake in Silence Therapeutics during the fourth quarter worth about $110,000. Vivo Capital LLC bought a new stake in shares of Silence Therapeutics in the 4th quarter valued at about $8,862,000. Parkman Healthcare Partners LLC lifted its stake in shares of Silence Therapeutics by 20.8% in the 4th quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company’s stock valued at $4,046,000 after acquiring an additional 40,063 shares during the last quarter. Finally, Redmile Group LLC purchased a new position in Silence Therapeutics during the 1st quarter valued at about $43,798,000. Institutional investors and hedge funds own 98.73% of the company’s stock.

Silence Therapeutics Company Profile

Silence Therapeutics plc, a biotechnology company, focuses on the discovery and development novel molecules incorporating short interfering ribonucleic acid (siRNA) to inhibit the expression of specific target genes in hematology, cardiovascular, and rare diseases. The company's mRNAi GalNAc Oligonucleotide Discovery platform consists of precision engineered product candidates designed to target specific disease-associated genes in the liver.