Silence Therapeutics (NASDAQ:SLN) Stock Price Up 6.9% – Here’s Why

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s stock price was up 6.9% on Wednesday . The stock traded as high as $11.56 and last traded at $11.60. 188,459 shares changed hands during trading, a decline of 46% from the average session volume of 348,887 shares. The stock had previously closed at $10.85.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $75.00 target price on shares of Silence Therapeutics in a research note on Wednesday, June 17th. Cantor Fitzgerald initiated coverage on shares of Silence Therapeutics in a research report on Wednesday, June 24th. They issued an “overweight” rating for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Silence Therapeutics in a report on Friday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.00.

Silence Therapeutics Stock Up 6.9%

The stock’s 50 day moving average price is $8.04 and its two-hundred day moving average price is $6.66. The firm has a market capitalization of $548.11 million, a price-to-earnings ratio of -7.29 and a beta of 1.38.

Silence Therapeutics (NASDAQ:SLN) last released its quarterly earnings data 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 analyst estimates of $1.25 million. On average, equities analysts expect that Silence Therapeutics PLC Sponsored ADR will post -1.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Silence Therapeutics

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Silence Therapeutics by 18.1% during 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 last quarter. Boothbay Fund Management LLC lifted its stake in shares of Silence Therapeutics by 1.0% in the 2nd quarter. Boothbay Fund Management LLC now owns 252,421 shares of the company’s stock valued at $1,464,000 after purchasing an additional 2,409 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Silence Therapeutics by 6.6% in the 3rd quarter. Two Sigma Investments LP now owns 63,247 shares of the company’s stock valued at $328,000 after purchasing an additional 3,935 shares during the last quarter. ADAR1 Capital Management LLC boosted its holdings in Silence Therapeutics by 26.8% in the fourth quarter. ADAR1 Capital Management LLC now owns 23,643 shares of the company’s stock worth $144,000 after purchasing an additional 5,000 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in Silence Therapeutics by 65.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 13,653 shares of the company’s stock worth $83,000 after purchasing an additional 5,421 shares in the last quarter. 98.73% of the stock is currently owned by institutional investors and hedge funds.

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.