Silence Therapeutics (NASDAQ:SLN) Sees Large Volume Increase – Here’s Why

Shares of Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) saw strong trading volume on Tuesday . Approximately 379,244 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 354,483 shares.The stock last traded at $11.1210 and had previously closed at $12.07.

Analyst Upgrades and Downgrades

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

Silence Therapeutics Stock Down 7.8%

The business’s 50-day simple moving average is $8.44 and its 200-day simple moving average is $6.82. The stock has a market cap of $525.49 million, a PE ratio of -6.85 and a beta of 1.38.

Silence Therapeutics (NASDAQ:SLN) last posted its earnings results on Friday, May 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.14). The business had revenue of $0.42 million during the quarter, compared to the consensus estimate of $1.25 million. Silence Therapeutics had a negative return on equity of 105.34% and a negative net margin of 8,943.86%. As a group, equities research analysts anticipate that Silence Therapeutics PLC Sponsored ADR will post -1.08 earnings per share for the current fiscal year.

Institutional Trading of Silence Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLN. GAMMA Investing LLC increased its position in Silence Therapeutics by 18.1% during the 2nd quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock valued at $121,000 after purchasing an additional 1,698 shares during the period. Seven Fleet Capital Management LP boosted its position in Silence Therapeutics by 6.2% during the 1st quarter. Seven Fleet Capital Management LP now owns 156,759 shares of the company’s stock valued at $826,000 after acquiring an additional 9,159 shares in the last quarter. Bank of America Corp DE raised its position in shares of Silence Therapeutics by 903.8% in the 1st quarter. Bank of America Corp DE now owns 29,773 shares of the company’s stock worth $157,000 after acquiring an additional 26,807 shares in the last quarter. ADAR1 Capital Management LLC raised its position in shares of Silence Therapeutics by 628.2% in the 1st quarter. ADAR1 Capital Management LLC now owns 172,157 shares of the company’s stock worth $907,000 after acquiring an additional 148,514 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Silence Therapeutics by 11.8% in the 1st quarter. SG Americas Securities LLC now owns 286,698 shares of the company’s stock valued at $1,511,000 after purchasing an additional 30,358 shares during the period. Hedge funds and other institutional investors own 98.73% of the company’s stock.

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.