Silence Therapeutics (NASDAQ:SLN) Shares Climb 6.8% – Here’s Why

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s share price shot up 6.8% during trading on Friday. The company traded as high as $10.10 and last traded at $10.1710. Approximately 223,778 shares were traded during trading, a decline of 63% from the average daily volume of 606,657 shares. The stock had previously closed at $9.52.

Wall Street Analyst Weigh In

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

Silence Therapeutics Price Performance

The stock has a market capitalization of $623.34 million, a PE ratio of -8.09 and a beta of 1.45. The stock’s fifty day moving average is $12.60 and its 200-day moving average is $9.45.

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

Institutional Investors Weigh In On Silence Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. 5AM Venture Management LLC purchased a new position in shares of Silence Therapeutics during the second quarter worth $5,228,676. Ishara Investments LP acquired a new stake in Silence Therapeutics in the fourth quarter valued at approximately $1,459,000. ADAR1 Capital Management LLC lifted its position in shares of Silence Therapeutics by 628.2% during the 1st quarter. ADAR1 Capital Management LLC now owns 172,157 shares of the company’s stock worth $907,000 after purchasing an additional 148,514 shares during the last quarter. Seven Fleet Capital Management LP acquired a new position in shares of Silence Therapeutics during the fourth quarter worth $897,000. Finally, SG Americas Securities LLC increased its holdings in Silence Therapeutics by 11.8% in the first quarter. SG Americas Securities LLC now owns 286,698 shares of the company’s stock valued at $1,511,000 after buying an additional 30,358 shares during the last quarter. 98.73% of the stock is owned by hedge funds and other institutional investors.

Silence Therapeutics Company Profile

Silence Therapeutics plc is a clinical-stage biotechnology company focused on developing medicines that use RNA interference (RNAi) to selectively reduce the production of disease-causing proteins. The company’s approach is designed to act at the genetic level by targeting specific messenger RNA molecules before they are translated into proteins.

Silence’s research is supported by its proprietary mRNAi GOLD platform, which is intended to enable the development and delivery of small interfering RNA (siRNA) medicines.