Silence Therapeutics (NASDAQ:SLN) Reaches New 52-Week High – Here’s What Happened

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) shares hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $19.69 and last traded at $19.6850, with a volume of 425,847 shares changing hands. The stock had previously closed at $19.67.

Wall Street Analyst Weigh In

SLN has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Silence Therapeutics in a research note on Thursday, October 15th. HC Wainwright downgraded shares of Silence Therapeutics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $75.00 to $20.00 in a report on Wednesday, October 21st. Jefferies Financial Group cut Silence Therapeutics from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a report on Monday, October 19th. Chardan Capital lowered shares of Silence Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 21st. Finally, William Blair cut shares of Silence Therapeutics from an “outperform” rating to a “hold” rating in a research note on Monday, October 19th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.00.

Silence Therapeutics Price Performance

The stock has a market capitalization of $1.19 billion, a PE ratio of -15.39 and a beta of 1.45. The stock’s fifty day moving average is $12.90 and its 200-day moving average is $10.11.

Silence Therapeutics (NASDAQ:SLN) last announced its earnings results on Monday, August 10th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that Silence Therapeutics PLC Sponsored ADR will post -0.82 EPS for the current year.

Hedge Funds Weigh In On Silence Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in SLN. GAMMA Investing LLC boosted its position 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 acquired a new stake in Silence Therapeutics during 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 valued at $157,000 after buying an additional 26,807 shares in the last quarter. Seven Fleet Capital Management LP lifted its holdings 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 period. Finally, ADAR1 Capital Management LLC raised its holdings in 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 buying an additional 148,514 shares during the period. 98.73% of the stock is currently owned by hedge funds and other institutional investors.

About Silence Therapeutics

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.