Silence Therapeutics (NASDAQ:SLN) Sees Large Volume Increase – Still a Buy?

Silence Therapeutics PLC Sponsored ADR (NASDAQ:SLN) shares saw strong trading volume on Tuesday . 379,244 shares traded hands during trading, an increase of 7% from the previous session’s volume of 354,483 shares.The stock last traded at $11.1210 and had previously closed at $12.07.

Wall Street Analysts Forecast Growth

SLN has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price target on shares of Silence Therapeutics in a report on Wednesday, June 17th. Cantor Fitzgerald began coverage on shares of Silence Therapeutics in a research note on Wednesday, June 24th. They set an “overweight” rating for the company. Finally, Weiss Ratings restated 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. According to MarketBeat.com, Silence Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $55.00.

Silence Therapeutics Price Performance

The firm has a market cap of $545.62 million, a price-to-earnings ratio of -7.26 and a beta of 1.38. The business has a 50 day moving average of $8.66 and a 200 day moving average of $6.90.

Silence Therapeutics (NASDAQ:SLN) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.14). Silence Therapeutics had a negative return on equity of 105.34% and a negative net margin of 8,943.86%.The company had revenue of $0.42 million for the quarter, compared to analysts’ expectations of $1.25 million. Research analysts predict that Silence Therapeutics PLC Sponsored ADR will post -1.08 earnings per share for the current year.

Institutional Investors Weigh In On Silence Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Seven Fleet Capital Management LP purchased a new position in shares of Silence Therapeutics during the fourth quarter valued at approximately $897,000. ADAR1 Capital Management LLC boosted its position in Silence Therapeutics by 628.2% during the first quarter. ADAR1 Capital Management LLC now owns 172,157 shares of the company’s stock worth $907,000 after acquiring an additional 148,514 shares during the last quarter. Ishara Investments LP purchased a new stake in Silence Therapeutics in the 4th quarter worth approximately $1,459,000. SG Americas Securities LLC grew its stake in Silence Therapeutics by 11.8% in the 1st quarter. SG Americas Securities LLC now owns 286,698 shares of the company’s stock worth $1,511,000 after acquiring an additional 30,358 shares during the period. Finally, Massar Capital Management LP acquired a new position in Silence Therapeutics in the 2nd quarter valued at $115,000. 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 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.