Silence Therapeutics (NASDAQ:SLN) Trading 5.8% Higher – Time to Buy?

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s share price was up 5.8% during trading on Tuesday . The stock traded as high as $14.50 and last traded at $14.32. Approximately 494,885 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 552,179 shares. The stock had previously closed at $13.53.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silence Therapeutics in a research report on Friday, July 17th. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a research note on Wednesday, June 17th. Morgan Stanley boosted their price target on shares of Silence Therapeutics from $25.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald assumed coverage on shares of Silence Therapeutics in a research report on Wednesday, June 24th. They set an “overweight” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Silence Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Silence Therapeutics Trading Down 1.8%

The stock’s fifty day moving average price is $11.87 and its two-hundred day moving average price is $8.32. The firm has a market capitalization of $874.85 million, a price-to-earnings ratio of -11.35 and a beta of 1.45.

Silence Therapeutics (NASDAQ:SLN) last issued its earnings results on Monday, August 10th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.12). Silence Therapeutics had a negative return on equity of 106.94% and a negative net margin of 8,943.86%. Analysts anticipate that Silence Therapeutics PLC Sponsored ADR will post -1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Boothbay Fund Management LLC raised its position in shares of Silence Therapeutics by 1.0% during the 2nd quarter. Boothbay Fund Management LLC now owns 252,421 shares of the company’s stock worth $1,464,000 after acquiring an additional 2,409 shares in the last quarter. Massar Capital Management LP acquired a new position in Silence Therapeutics in the second quarter valued at approximately $115,000. UBS Group AG increased its stake in Silence Therapeutics by 34.5% in the third quarter. UBS Group AG now owns 307,363 shares of the company’s stock valued at $1,595,000 after purchasing an additional 78,854 shares during the last quarter. Two Sigma Investments LP increased its stake in Silence Therapeutics by 6.6% in the third 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. Finally, Citadel Advisors LLC acquired a new stake in Silence Therapeutics during the third quarter worth approximately $112,000. 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.