Silence Therapeutics (NASDAQ:SLN) Sets New 1-Year High – Still a Buy?

Shares of Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) hit a new 52-week high on Monday . The stock traded as high as $10.72 and last traded at $10.6340, with a volume of 41141 shares traded. The stock had previously closed at $10.14.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of Silence Therapeutics in a research report on Wednesday, June 17th. Jefferies Financial Group upgraded shares of Silence Therapeutics to a “strong-buy” rating in a report on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silence Therapeutics in a research report on Tuesday, April 21st. Cantor Fitzgerald started coverage on shares of Silence Therapeutics in a report on Wednesday, June 24th. They issued an “overweight” rating for the company. Finally, William Blair reissued an “outperform” rating on shares of Silence Therapeutics in a research report on Monday, March 2nd. One investment 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.00.

Silence Therapeutics Stock Performance

The company has a market capitalization of $486.76 million, a price-to-earnings ratio of -6.47 and a beta of 1.48. The firm has a 50-day simple moving average of $7.07 and a two-hundred day simple moving average of $6.18.

Silence Therapeutics (NASDAQ:SLN) last issued its quarterly earnings results 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 return on equity of 105.34% and a negative net margin of 8,943.86%.The business had revenue of $0.42 million for the quarter, compared to analysts’ expectations of $1.25 million. As a group, equities analysts forecast that Silence Therapeutics PLC Sponsored ADR will post -0.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Silence Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLN. EHP Funds Inc. acquired a new position in Silence Therapeutics during the 3rd quarter worth $55,000. XTX Topco Ltd purchased a new position in Silence Therapeutics in the fourth quarter worth approximately $71,000. China Universal Asset Management Co. Ltd. increased its position in shares of Silence Therapeutics by 65.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,653 shares of the company’s stock valued at $83,000 after purchasing an additional 5,421 shares during the last quarter. Massar Capital Management LP acquired a new stake in shares of Silence Therapeutics in the 2nd quarter valued at $115,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Silence Therapeutics during the 3rd quarter worth $112,000. 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.