Silence Therapeutics (NASDAQ:SLN) Reaches New 1-Year High – Here’s Why

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) hit a new 52-week high on Friday . The company traded as high as $12.31 and last traded at $12.15, with a volume of 88108 shares traded. The stock had previously closed at $11.72.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SLN shares. Cantor Fitzgerald initiated coverage on Silence Therapeutics in a research report on Wednesday, June 24th. They issued an “overweight” rating for the company. HC Wainwright restated a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a research note on Wednesday, June 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silence Therapeutics in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.00.

Silence Therapeutics Stock Performance

The company’s fifty day simple moving average is $9.31 and its two-hundred day simple moving average is $7.16. The stock has a market capitalization of $564.52 million, a P/E ratio of -7.52 and a beta of 1.39.

Silence Therapeutics (NASDAQ:SLN) last announced its earnings results on Friday, May 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.14). The firm had revenue of $0.42 million for the quarter, compared to the consensus estimate of $1.25 million. Silence Therapeutics had a negative return on equity of 105.34% and a negative net margin of 8,943.86%. On average, research analysts predict that Silence Therapeutics PLC Sponsored ADR will post -1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Nantahala Capital Management LLC raised its position in shares of Silence Therapeutics by 48.0% in the fourth quarter. Nantahala Capital Management LLC now owns 1,542,427 shares of the company’s stock valued at $9,378,000 after buying an additional 500,000 shares in the last quarter. Millennium Management LLC grew its position in Silence Therapeutics by 121.0% during the fourth quarter. Millennium Management LLC now owns 659,592 shares of the company’s stock worth $4,010,000 after buying an additional 361,080 shares in the last quarter. Ishara Investments LP bought a new position in Silence Therapeutics during the 4th quarter worth $1,459,000. ADAR1 Capital Management LLC increased its stake in 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 during the period. Finally, Seven Fleet Capital Management LP acquired a new position in Silence Therapeutics in the 4th quarter valued at $897,000. Institutional investors own 98.73% of the company’s stock.

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.