Silence Therapeutics (NASDAQ:SLN) Sets New 12-Month High – Time to Buy?

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $10.72 and last traded at $10.6340, with a volume of 41141 shares trading hands. The stock had previously closed at $10.14.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SLN shares. Weiss Ratings restated a “sell (d-)” rating on shares of Silence Therapeutics in a report on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating and issued a $75.00 price objective on shares of Silence Therapeutics in a research report on Wednesday, June 17th. Jefferies Financial Group raised Silence Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Cantor Fitzgerald started coverage on Silence Therapeutics in a report on Wednesday, June 24th. They set an “overweight” rating for the company. One investment 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Silence Therapeutics Stock Up 1.8%

The company’s fifty day simple moving average is $7.20 and its 200 day simple moving average is $6.24. The firm has a market capitalization of $518.70 million, a PE ratio of -6.91 and a beta of 1.48.

Silence Therapeutics (NASDAQ:SLN) last posted 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 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 research analysts forecast that Silence Therapeutics PLC Sponsored ADR will post -0.83 EPS for the current year.

Hedge Funds Weigh In On Silence Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLN. EHP Funds Inc. bought a new position in shares of Silence Therapeutics in the 3rd quarter worth about $55,000. XTX Topco Ltd bought a new position in shares of Silence Therapeutics during the fourth quarter valued at approximately $71,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Silence Therapeutics by 65.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,653 shares of the company’s stock valued at $83,000 after purchasing an additional 5,421 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Silence Therapeutics in the 3rd quarter worth approximately $112,000. Finally, Massar Capital Management LP bought a new position in Silence Therapeutics during the 2nd quarter valued at approximately $115,000. Hedge funds and other institutional investors own 98.73% of the company’s stock.

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.