Silence Therapeutics (NASDAQ:SLN) Shares Down 9.3% – What’s Next?

Silence Therapeutics plc (NASDAQ:SLN) shares traded down 9.3% during trading on Tuesday . The company traded as low as $6.72 and last traded at $6.72. 173,968 shares traded hands during trading, a decline of 26% from the average session volume of 235,292 shares. The stock had previously closed at $7.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SLN shares. Morgan Stanley reaffirmed an “overweight” rating and set a $49.00 price objective on shares of Silence Therapeutics in a research note on Tuesday, October 8th. BMO Capital Markets restated an “outperform” rating on shares of Silence Therapeutics in a research report on Monday, December 2nd. William Blair reaffirmed an “outperform” rating on shares of Silence Therapeutics in a research note on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and set a $75.00 price objective on shares of Silence Therapeutics in a research note on Monday, December 9th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $55.00 target price on shares of Silence Therapeutics in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Silence Therapeutics has an average rating of “Buy” and an average target price of $57.20.

Silence Therapeutics Price Performance

The stock has a 50-day moving average price of $9.74 and a 200 day moving average price of $15.50. The company has a market cap of $201.12 million, a price-to-earnings ratio of -4.28 and a beta of 1.08.

Hedge Funds Weigh In On Silence Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nicholas Investment Partners LP bought a new position in shares of Silence Therapeutics during the 2nd quarter worth approximately $2,859,000. First Turn Management LLC acquired a new position in Silence Therapeutics during the second quarter worth $10,209,000. Lombard Odier Asset Management USA Corp grew its position in Silence Therapeutics by 0.7% in the second quarter. Lombard Odier Asset Management USA Corp now owns 2,405,998 shares of the company’s stock valued at $45,714,000 after purchasing an additional 17,086 shares in the last quarter. Marshall Wace LLP increased its stake in Silence Therapeutics by 7.3% in the 2nd quarter. Marshall Wace LLP now owns 149,397 shares of the company’s stock valued at $2,839,000 after buying an additional 10,206 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Silence Therapeutics by 91.2% during the 2nd quarter. Millennium Management LLC now owns 782,941 shares of the company’s stock worth $14,876,000 after buying an additional 373,523 shares in the last quarter. 98.73% of the stock is owned by institutional investors and hedge funds.

Silence Therapeutics Company Profile

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.