Silence Therapeutics (NASDAQ:SLN) Shares Up 10% – Still a Buy?

Shares of Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) were up 10% during mid-day trading on Wednesday . The stock traded as high as $10.60 and last traded at $10.7280. Approximately 573,183 shares changed hands during mid-day trading, an increase of 64% from the average session volume of 348,516 shares. The stock had previously closed at $9.75.

Analyst Ratings Changes

Several equities research analysts have recently commented on SLN shares. HC Wainwright restated a “buy” rating and set a $75.00 price target on shares of Silence Therapeutics in a research note on Wednesday, June 17th. Jefferies Financial Group raised shares of Silence Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 18th. Cantor Fitzgerald began coverage on shares of Silence Therapeutics in a research report on Wednesday, June 24th. They set an “overweight” rating for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Silence Therapeutics in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Silence Therapeutics Stock Performance

The firm has a fifty day moving average price of $7.68 and a 200 day moving average price of $6.50. The firm has a market capitalization of $507.12 million, a price-to-earnings ratio of -6.68 and a beta of 1.38.

Silence Therapeutics (NASDAQ:SLN) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.14). The business had revenue of $0.42 million for the quarter, compared to analyst estimates of $1.25 million. Silence Therapeutics had a negative return on equity of 105.34% and a negative net margin of 8,943.86%. Research analysts predict that Silence Therapeutics PLC Sponsored ADR will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Silence Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of SLN. XTX Topco Ltd purchased a new position in Silence Therapeutics in the 4th quarter valued at approximately $71,000. China Universal Asset Management Co. Ltd. grew its stake in Silence Therapeutics by 65.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 13,653 shares of the company’s stock valued at $83,000 after acquiring an additional 5,421 shares during the last quarter. Citadel Advisors LLC purchased a new position in Silence Therapeutics during the 3rd quarter valued at about $112,000. Massar Capital Management LP acquired a new position in Silence Therapeutics during the second quarter worth about $115,000. Finally, GAMMA Investing LLC lifted 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 valued at $121,000 after purchasing an additional 1,698 shares in the last quarter. 98.73% of the stock is currently owned by institutional investors and hedge funds.

Silence Therapeutics Company Profile

Silence Therapeutics plc is a clinical-stage biotechnology company focused on the discovery and development of ribonucleic acid interference (RNAi) therapeutics. Leveraging its proprietary EnCore lipid nanoparticle delivery platform, the company aims to silence disease-causing genes in the liver and other tissues. Silence’s technology is designed to enhance targeted delivery of small interfering RNA (siRNA) molecules, with the goal of achieving durable therapeutic effects and improved safety profiles compared with traditional drug modalities.

The company’s lead product candidates include SLN360, an siRNA therapeutic designed to reduce lipoprotein(a) levels for cardiovascular risk reduction, and SLN124, aimed at treating hereditary hemochromatosis and beta-thalassemia by modulating iron metabolism.