Silence Therapeutics (NASDAQ:SLN) Stock Gets Downgrade from Chardan Capital

Silence Therapeutics (NASDAQ:SLN) was downgraded by Chardan Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks reports.

A number of other research firms have also issued reports on SLN. William Blair lowered Silence Therapeutics from an “outperform” rating to a “hold” rating in a research report on Monday. Morgan Stanley increased their price target on Silence Therapeutics from $25.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silence Therapeutics in a research report on Thursday, October 15th. HC Wainwright downgraded Silence Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $20.00 in a research report on Wednesday. Finally, Cantor Fitzgerald assumed coverage on Silence Therapeutics in a research note on Wednesday, June 24th. They set an “overweight” rating on the stock. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Silence Therapeutics has an average rating of “Hold” and an average target price of $24.00.

Silence Therapeutics Trading Up 0.3%

SLN stock opened at $19.67 on Wednesday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -15.37 and a beta of 1.45. Silence Therapeutics has a 12 month low of $4.19 and a 12 month high of $19.67. The firm has a 50-day moving average of $12.67 and a two-hundred day moving average of $9.92.

Silence Therapeutics (NASDAQ:SLN) last released its earnings results on Monday, August 10th. The company reported ($0.26) earnings per share 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%. As a group, equities analysts forecast that Silence Therapeutics will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On Silence Therapeutics

A number of hedge funds have recently modified their holdings of the business. 5AM Venture Management LLC acquired a new stake in shares of Silence Therapeutics during the 2nd quarter worth about $5,228,676. SG Americas Securities LLC raised its holdings in Silence Therapeutics by 11.8% in the 1st 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 period. Squarepoint Ops LLC raised its holdings in Silence Therapeutics by 29.6% in the 2nd quarter. Squarepoint Ops LLC now owns 115,918 shares of the company’s stock valued at $1,273,000 after buying an additional 26,449 shares during the period. ADAR1 Capital Management LLC lifted its position in Silence Therapeutics by 628.2% in the first quarter. ADAR1 Capital Management LLC now owns 172,157 shares of the company’s stock valued at $907,000 after buying an additional 148,514 shares during the last quarter. Finally, Seven Fleet Capital Management LP lifted its position in Silence Therapeutics by 6.2% in the first quarter. Seven Fleet Capital Management LP now owns 156,759 shares of the company’s stock valued at $826,000 after buying an additional 9,159 shares during the last quarter. 98.73% of the stock is currently 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 small interfering RNA (siRNA) to selectively reduce the production of disease-related proteins. Its approach is designed to intervene at the genetic messenger RNA stage, potentially providing targeted and durable effects for patients with serious diseases.

The company’s proprietary mRNAi GOLD platform supports the design and delivery of siRNA medicines, including compounds intended to target tissues such as the liver.