Silence Therapeutics (NASDAQ:SLN) Sees Unusually-High Trading Volume – Here’s Why

Shares of Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) saw strong trading volume on Thursday. Approximately 733,544 shares traded hands during trading, an increase of 19% from the previous session’s volume of 617,632 shares. The stock last traded at $9.1570 and had previously closed at $8.98.

Analysts Set New Price Targets

A number of brokerages have issued reports on SLN. HC Wainwright restated a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a research report on Wednesday, June 17th. Cantor Fitzgerald started coverage on Silence Therapeutics in a report on Wednesday, June 24th. They issued an “overweight” rating for the company. 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. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Silence Therapeutics in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Silence Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $53.50.

Silence Therapeutics Stock Up 1.2%

The stock has a market cap of $547.00 million, a P/E ratio of -7.10 and a beta of 1.45. The business has a 50 day moving average price of $12.48 and a 200 day moving average price of $9.56.

Silence Therapeutics (NASDAQ:SLN) last issued its quarterly earnings results 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 return on equity of 106.94% and a negative net margin of 8,943.86%. On average, research analysts expect that Silence Therapeutics PLC Sponsored ADR will post -0.82 earnings per share for the current fiscal year.

Institutional Trading of Silence Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Silence Therapeutics by 18.1% in the second quarter. GAMMA Investing LLC now owns 11,063 shares of the company’s stock worth $121,000 after purchasing an additional 1,698 shares during the last quarter. AXQ Capital LP purchased a new position in Silence Therapeutics in the 2nd quarter worth about $138,000. Bank of America Corp DE lifted its holdings in Silence Therapeutics by 903.8% during the 1st 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. Squarepoint Ops LLC lifted its holdings in Silence Therapeutics by 29.6% during 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 in the last quarter. Finally, Seven Fleet Capital Management LP purchased a new stake in Silence Therapeutics in the 4th quarter valued at about $897,000. 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 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.