Silence Therapeutics (NASDAQ:SLN) Stock Falls 8.7% – Here’s What Happened

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN)’s stock price fell 8.7% during trading on Wednesday. The company traded as low as $11.28 and last traded at $11.2150. 234,744 shares were traded during mid-day trading, a decline of 59% from the average session volume of 575,343 shares. The stock had previously closed at $12.29.

Analysts Set New Price Targets

SLN has been the topic of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silence Therapeutics in a report on Friday, July 17th. Cantor Fitzgerald started coverage on Silence Therapeutics in a research report on Wednesday, June 24th. They issued an “overweight” rating for the company. Morgan Stanley upped their price target 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 reiterated a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Silence Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $53.50.

Silence Therapeutics Price Performance

The stock has a market cap of $675.56 million, a price-to-earnings ratio of -8.77 and a beta of 1.45. The company’s fifty day simple moving average is $12.76 and its two-hundred day simple moving average is $9.18.

Silence Therapeutics (NASDAQ:SLN) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current year.

Institutional Investors Weigh In On Silence Therapeutics

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in Silence Therapeutics by 18.1% in the second quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock valued at $121,000 after acquiring an additional 1,698 shares during the last quarter. Seven Fleet Capital Management LP increased its stake in shares of Silence Therapeutics by 6.2% during the 1st quarter. Seven Fleet Capital Management LP now owns 156,759 shares of the company’s stock worth $826,000 after purchasing an additional 9,159 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of Silence Therapeutics during the 2nd quarter worth approximately $138,000. Squarepoint Ops LLC raised its holdings in shares of Silence Therapeutics by 29.6% in the 2nd quarter. Squarepoint Ops LLC now owns 115,918 shares of the company’s stock worth $1,273,000 after purchasing an additional 26,449 shares during the period. Finally, Bank of America Corp DE raised its holdings 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 purchasing an additional 26,807 shares during the period. 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.