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

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

Wall Street Analyst Weigh In

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

Silence Therapeutics Trading Down 5.8%

The stock has a market capitalization of $654.68 million, a PE ratio of -10.83 and a beta of 1.39. The stock’s fifty day simple moving average is $9.66 and its 200-day simple moving average is $7.31.

Silence Therapeutics (NASDAQ:SLN) last announced its earnings results on Monday, August 10th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate 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%. As a group, analysts anticipate that Silence Therapeutics PLC Sponsored ADR will post -1.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silence Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in Silence Therapeutics in the 4th quarter valued at about $71,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Silence Therapeutics by 65.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,653 shares of the company’s stock worth $83,000 after buying an additional 5,421 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Silence Therapeutics in the third quarter valued at approximately $112,000. Massar Capital Management LP bought a new position in shares of Silence Therapeutics in the second quarter valued at approximately $115,000. Finally, GAMMA Investing LLC grew 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. 98.73% of the stock is owned by 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.