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

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s share price hit a new 52-week high during trading on Friday. The stock traded as high as $19.86 and last traded at $19.8350, with a volume of 436,647 shares trading hands. The stock had previously closed at $19.80.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SLN shares. Morgan Stanley raised their price objective on shares of Silence Therapeutics from $25.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. HC Wainwright downgraded shares of Silence Therapeutics from a “buy” rating to a “neutral” rating and dropped their target price for the company from $75.00 to $20.00 in a research report on Wednesday, October 21st. Jefferies Financial Group lowered shares of Silence Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a research note on Monday, October 19th. William Blair lowered shares of Silence Therapeutics from an “outperform” rating to a “hold” rating in a research note on Monday, October 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Silence Therapeutics in a report on Thursday, October 15th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Silence Therapeutics currently has an average rating of “Hold” and a consensus target price of $24.00.

Silence Therapeutics Stock Performance

The company has a market capitalization of $1.23 billion, a P/E ratio of -18.53 and a beta of 1.34. The stock has a 50 day moving average price of $14.66 and a 200 day moving average price of $9.75.

Silence Therapeutics (NASDAQ:SLN) last released its earnings results on Thursday, November 12th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.13). Silence Therapeutics had a negative return on equity of 102.72% and a negative net margin of 8,943.86%. As a group, sell-side analysts expect that Silence Therapeutics PLC Sponsored ADR will post -0.82 earnings per share for the current year.

Institutional Trading of Silence Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp bought a new stake in Silence Therapeutics in the third quarter worth $238,000. Aberdeen Group plc bought a new position in shares of Silence Therapeutics during the third quarter valued at about $2,207,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Silence Therapeutics during the third quarter valued at about $26,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Silence Therapeutics by 14.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 8,572 shares of the company’s stock valued at $93,000 after buying an additional 1,097 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of Silence Therapeutics by 29.6% in the second quarter. Squarepoint Ops LLC now owns 115,918 shares of the company’s stock worth $1,273,000 after buying an additional 26,449 shares during the period. Hedge funds and other institutional investors own 98.73% of the company’s stock.

About Silence Therapeutics

Silence Therapeutics is a biotechnology company developing medicines based on RNA interference (RNAi), a biological process that can reduce production of specific disease-related proteins. Its proprietary mRNAi GOLD platform is designed to create small interfering RNA (siRNA) medicines, including treatments that target genes expressed in the liver. The company’s research and development programs have included zerlasiran, which targets lipoprotein(a), a risk factor for cardiovascular disease, and divesiran, investigated for blood disorders.