Silence Therapeutics (NASDAQ:SLN) Sets New 52-Week High – Here’s Why

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s stock price hit a new 52-week high on Friday . The stock traded as high as $11.19 and last traded at $11.1750, with a volume of 28903 shares traded. The stock had previously closed at $10.92.

Analysts Set New Price Targets

SLN has been the subject of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Silence Therapeutics in a research note on Tuesday, April 21st. Cantor Fitzgerald began coverage on shares of Silence Therapeutics in a report on Wednesday, June 24th. They set an “overweight” rating for the company. Finally, HC Wainwright restated a “buy” rating and set a $75.00 target price on shares of Silence Therapeutics in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Silence Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Silence Therapeutics Stock Down 1.3%

The firm has a 50-day moving average of $7.82 and a two-hundred day moving average of $6.56. The company has a market capitalization of $509.06 million, a PE ratio of -6.79 and a beta of 1.38.

Silence Therapeutics (NASDAQ:SLN) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.14). The company had revenue of $0.42 million during the quarter, compared to analysts’ expectations of $1.25 million. Silence Therapeutics had a negative return on equity of 105.34% and a negative net margin of 8,943.86%. Equities analysts predict that Silence Therapeutics PLC Sponsored ADR will post -0.83 EPS for the current fiscal year.

Institutional Trading of Silence Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Silence Therapeutics by 18.1% during the second quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock valued at $121,000 after buying an additional 1,698 shares during the period. Seven Fleet Capital Management LP raised its position in shares of Silence Therapeutics by 6.2% in the first quarter. Seven Fleet Capital Management LP now owns 156,759 shares of the company’s stock worth $826,000 after acquiring an additional 9,159 shares during the period. Bank of America Corp DE boosted its stake in shares of Silence Therapeutics by 903.8% during the 1st quarter. Bank of America Corp DE now owns 29,773 shares of the company’s stock worth $157,000 after acquiring an additional 26,807 shares in the last quarter. ADAR1 Capital Management LLC boosted its stake in shares of Silence Therapeutics by 628.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 172,157 shares of the company’s stock worth $907,000 after acquiring an additional 148,514 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Silence Therapeutics by 11.8% during the 1st quarter. SG Americas Securities LLC now owns 286,698 shares of the company’s stock valued at $1,511,000 after acquiring an additional 30,358 shares during the period. 98.73% of the stock is owned by hedge funds and other institutional investors.

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.