Silence Therapeutics (NASDAQ:SLN) Shares Down 3.5%

Silence Therapeutics plc (NASDAQ:SLN) was down 3.5% during trading on Tuesday . The stock traded as low as $18.09 and last traded at $18.09. Approximately 25,249 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 197,378 shares. The stock had previously closed at $18.74.

Analyst Ratings Changes

A number of brokerages have weighed in on SLN. Chardan Capital raised their price objective on Silence Therapeutics from $42.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 28th. HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a research note on Thursday, June 27th. Finally, Morgan Stanley boosted their price target on shares of Silence Therapeutics from $45.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th.

Silence Therapeutics Stock Performance

The stock has a 50-day moving average of $20.90 and a 200 day moving average of $21.04.

Silence Therapeutics (NASDAQ:SLN) last issued its earnings results on Thursday, May 16th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.18. The business had revenue of $15.73 million during the quarter, compared to the consensus estimate of $4.53 million. Silence Therapeutics had a negative return on equity of 79.90% and a negative net margin of 131.44%. As a group, analysts forecast that Silence Therapeutics plc will post -1.52 EPS for the current year.

Hedge Funds Weigh In On Silence Therapeutics

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Silence Therapeutics in the 4th quarter valued at approximately $110,000. Parkman Healthcare Partners LLC raised its position in shares of Silence Therapeutics by 20.8% during the 4th quarter. Parkman Healthcare Partners LLC now owns 232,942 shares of the company’s stock valued at $4,046,000 after buying an additional 40,063 shares during the period. Vivo Capital LLC acquired a new position in Silence Therapeutics in the fourth quarter valued at approximately $8,862,000. Lynx1 Capital Management LP grew its position in Silence Therapeutics by 123.4% in the first quarter. Lynx1 Capital Management LP now owns 526,642 shares of the company’s stock worth $11,375,000 after acquiring an additional 290,855 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in Silence Therapeutics during the first quarter worth $13,575,000. 98.73% of the stock is owned by hedge funds and other institutional investors.

About Silence Therapeutics

Silence Therapeutics plc, a biotechnology company, focuses on the discovery and development novel molecules incorporating short interfering ribonucleic acid (siRNA) to inhibit the expression of specific target genes in hematology, cardiovascular, and rare diseases. The company's mRNAi GalNAc Oligonucleotide Discovery platform consists of precision engineered product candidates designed to target specific disease-associated genes in the liver.