Silence Therapeutics (NASDAQ:SLN) Shares Up 10% – Here’s Why

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s stock price rose 10% on Wednesday . The company traded as high as $10.60 and last traded at $10.7280. 573,183 shares were traded during mid-day trading, an increase of 64% from the average session volume of 348,516 shares. The stock had previously closed at $9.75.

Analysts Set New Price Targets

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

Silence Therapeutics Stock Up 4.5%

The company has a market cap of $515.86 million, a P/E ratio of -6.87 and a beta of 1.38. The business has a fifty day simple moving average of $7.82 and a two-hundred day simple moving average of $6.56.

Silence Therapeutics (NASDAQ:SLN) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.14). Silence Therapeutics had a negative net margin of 8,943.86% and a negative return on equity of 105.34%. The firm had revenue of $0.42 million for the quarter, compared to the consensus estimate of $1.25 million. On average, 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 and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in Silence Therapeutics in the fourth quarter worth approximately $71,000. China Universal Asset Management Co. Ltd. grew its position in shares of Silence Therapeutics by 65.9% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,653 shares of the company’s stock valued at $83,000 after acquiring an additional 5,421 shares during the period. Citadel Advisors LLC purchased a new stake in shares of Silence Therapeutics in the 3rd quarter worth $112,000. Massar Capital Management LP purchased a new stake in shares of Silence Therapeutics in the 2nd quarter worth $115,000. Finally, GAMMA Investing LLC raised its holdings in Silence Therapeutics by 18.1% in the 2nd quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock worth $121,000 after purchasing an additional 1,698 shares during the period. 98.73% of the stock is owned by hedge funds and other institutional investors.

Silence Therapeutics Company Profile

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.