Silence Therapeutics (NASDAQ:SLN) Stock Price Down 5.4% – Time to Sell?

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s stock price fell 5.4% during mid-day trading on Tuesday . The company traded as low as $12.43 and last traded at $12.36. 116,666 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 564,292 shares. The stock had previously closed at $13.06.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SLN. Cantor Fitzgerald assumed coverage on Silence Therapeutics in a research note on Wednesday, June 24th. They issued an “overweight” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silence Therapeutics in a research report on Friday, July 17th. Morgan Stanley upped their target price on Silence Therapeutics from $25.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a research note on Wednesday, June 17th. One 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 company’s stock. According to MarketBeat.com, Silence Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Silence Therapeutics Stock Down 4.2%

The stock’s fifty day moving average price is $12.41 and its 200 day moving average price is $8.82. The stock has a market cap of $752.91 million, a PE ratio of -9.77 and a beta of 1.45.

Silence Therapeutics (NASDAQ:SLN) last announced its quarterly 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%. On average, equities research analysts expect that Silence Therapeutics PLC Sponsored ADR will post -1.03 earnings per share for the current fiscal year.

Institutional Trading of Silence Therapeutics

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in 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 acquiring an additional 1,698 shares during the period. AXQ Capital LP purchased a new stake in shares of Silence Therapeutics in the second quarter worth $138,000. Bank of America Corp DE increased its stake in shares of Silence Therapeutics by 903.8% in the first quarter. Bank of America Corp DE now owns 29,773 shares of the company’s stock worth $157,000 after purchasing an additional 26,807 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Silence Therapeutics by 29.6% during the 2nd quarter. Squarepoint Ops LLC now owns 115,918 shares of the company’s stock valued at $1,273,000 after purchasing an additional 26,449 shares during the period. Finally, Seven Fleet Capital Management LP purchased a new position in shares of Silence Therapeutics during the 4th quarter valued at $897,000. Institutional investors own 98.73% of the company’s stock.

About Silence Therapeutics

Silence Therapeutics plc is a biotechnology company focused on developing medicines that use small interfering RNA (siRNA) to selectively reduce the production of disease-related proteins. Its proprietary mRNAi GOLD platform is designed to identify and silence specific messenger RNA targets, with the aim of producing durable effects from infrequent dosing.

The company’s pipeline includes zerlasiran, formerly known as SLN360, an investigational therapy designed to reduce production of lipoprotein(a), a genetically determined risk factor associated with cardiovascular disease.